Mohal Rajiv Lalbhai, Founder and CEO, Matter, recently told Business Standard, “Given the current and growing demand for electric mobility as well as energy storage, Matter has expanded its footprint from 60000 vehicles per year in the first phase. We have decided to increase the manufacturing footprint to 200,000 in the second phase. We have just completed the installation of 200 MW plant for the battery and production will start in January 2022. Similarly we will be rolling out our first electric motorcycle by the first half of 2022. Considering getting out.”
As part of its production and roll-out plan, the company has signed a Memorandum of Understanding (MoU) with the Gujarat government for an investment commitment of Rs 1,500 crore. This commitment to invest in next-generation electric mobility and energy storage solutions over a period of five years will demand more than 4000 recruits.
Elaborating on the investment issue, Lalbhai said that out of Rs 1500 crore, Rs 1,200 crore would be invested in electric mobility and Rs 300 crore in energy storage.
With the first phase of 60,000 vehicles per year under development, Matter will spend on building its research and development in core technology as well as infrastructure in and around Ahmedabad. Its division, Matter Energy, is building a roadmap for larger systems by the end of 2022. Simultaneously, it is in the process of developing battery back-up applications for domestic as well as industry. This commitment of Rs 1500 crore investment of the startup will continue till 2026.
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