Matter to launch one EV bike each year; targets 60 dealerships in FY26
, an Ahmedabad-based electric motorcycle startup, plans to launch one new model every year for the next three years as part of its expansion strategy, said Co-founder and COO Arun Pratap Singh, as reported by PTI.
Speaking at the launch of the company's first geared electric bike, AERA, Singh said Matter aims to scale operations nationwide, targeting 50–60 dealerships by the end of FY26. Of these, 20 outlets are expected to be in South India, a key region for premium motorcycle demand.
'There are products planned, at least a new launch every year,' Singh said, adding the company remains focused on
electric motorcycles
, with no immediate plans for scooters.
The company began deliveries of the AERA in October 2024, after nearly six years of development. Sales were initially limited to Ahmedabad to gather feedback before rolling out nationally.
Matter expects to sell around 10,000 vehicles in FY26, ramping up to 50,000–60,000 units in the following year. Its Ahmedabad plant has a capacity of 10,000 units per month.
Strategy to resolve supply chain issue
The company has so far raised $80 million and plans to secure an additional $200 million in the next couple of years, ahead of a potential IPO in 3–4 years. On supply chain concerns, Singh acknowledged challenges around sourcing rare earth magnets and said the company is working with Chinese suppliers while also exploring non-Chinese alternatives that use magnets without rare earth materials.
'We're actively looking at alternatives to avoid future supply disruptions,' Singh said.
Matter's expansion and product roadmap signals its ambition to emerge as a key player in India's growing
electric two-wheeler market
, with a clear focus on technology, scale, and regional reach.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
27 minutes ago
- The Hindu
How U.S. buyers of critical minerals bypass China's export ban
Unusually large quantities of antimony— a metal used in batteries, chips and flame retardants— have poured into the United States from Thailand and Mexico since China barred U.S. shipments last year, according to customs and shipping records, which show at least one Chinese-owned company is involved in the trade. China dominates the supply of antimony as well as gallium and germanium, used in telecommunications, semiconductors and military technology. Beijing banned exports of these minerals to the U.S. on December 3 following Washington's crackdown on China's chip sector. The resulting shift in trade flows underscores the scramble for critical minerals and China's struggle to enforce its curbs as it vies with the U.S. for economic, military and technological supremacy. Specifically, trade data illustrate a re-routing of U.S. shipments via third countries— an issue Chinese officials have acknowledged. Three industry experts corroborated that assessment, including two executives at two U.S. companies who told Reuters they had obtained restricted minerals from China in recent months. The U.S. imported 3,834 metric tons of antimony oxides from Thailand and Mexico between December and April, U.S. customs data show. That was more than almost the previous three years combined. Thailand and Mexico, meanwhile, shot into the top three export markets for Chinese antimony this year, according to Chinese customs data through May. Neither made the top 10 in 2023, the last full year before Beijing restricted exports. Thailand and Mexico each have a single antimony smelter, according to consultancy RFC Ambrian, and the latter's only reopened in April. Neither country mines meaningful quantities of the metal. U.S. imports of antimony, gallium and germanium this year are on track to equal or exceed levels before the ban, albeit at higher prices. Ram Ben Tzion, co-founder and CEO of digital shipment-vetting platform Publican, said that while there was clear evidence of transshipment, trade data didn't enable the identification of companies involved. "It's a pattern that we're seeing and that pattern is consistent," he told Reuters. Chinese companies, he added, were "super creative in bypassing regulations." China's Commerce Ministry said in May that unspecified overseas entities had "colluded with domestic lawbreakers" to evade its export restrictions, and that stopping such activity was essential to national security. It didn't respond to Reuters questions about the shift in trade flows since December. The U.S. Commerce Department, Thailand's Commerce Ministry and Mexico's Economy Ministry didn't respond to similar questions. U.S. law doesn't bar American buyers from purchasing Chinese-origin antimony, gallium or germanium. Chinese firms can ship the minerals to countries other than the U.S. if they have a license. Levi Parker, CEO and founder of U.S.-based Gallant Metals, told Reuters how he obtains about 200 kg of gallium a month from China, without identifying the parties involved due to the potential repercussions. First, buying agents in China obtain material from producers. Then, a shipping company routes the packages, re-labelled variously as iron, zinc or art supplies, via another Asian country, he said. The workarounds aren't perfect, nor cheap, Mr. Parker said. He said he would like to import 500 kg regularly but big shipments risked drawing scrutiny, and Chinese logistics firms were "very careful" because of the risks. Brisk trade Thai Unipet Industries, a Thailand-based subsidiary of Chinese antimony producer Youngsun Chemicals, has been doing brisk trade with the U.S. in recent months, previously unreported shipping records reviewed by Reuters show. Unipet shipped at least 3,366 tons of antimony products from Thailand to the U.S. between December and May, according to 36 bills of lading recorded by trade platforms ImportYeti and Export Genius. That was around 27 times the volume Unipet shipped in the same period a year earlier. The records list the cargo, parties involved, and ports of origin and receipt, but not necessarily the origin of the raw material. They don't indicate specific evidence of transshipment. Thai Unipet couldn't be reached for comment. When Reuters called a number listed for the company on one of the shipping records, a person who answered said the number didn't belong to Unipet. Reuters mailed questions to Unipet's registered address but received no response. Unipet's parent, Youngsun Chemicals, didn't respond to questions about the U.S. shipments. The buyer of Unipet's U.S. shipments was Texas-based Youngsun & Essen, which before Beijing's ban imported most of its antimony trioxide from Youngsun Chemicals. Neither Youngsun & Essen nor its president, Jimmy Song, responded to questions about the imports. China launched a campaign in May against the transshipment and smuggling of critical minerals. Offenders can face fines and bans on future exports. Serious cases can also be treated as smuggling, and result in jail terms of more than five years, James Hsiao, a Hong Kong-based partner at law firm White & Case, told Reuters. The laws apply to Chinese firms even where transactions take place abroad, he said. In cases of transshipment, Chinese authorities can prosecute sellers that fail to conduct sufficient due diligence to determine the end user, Mr. Hsiao added. Yet for anyone willing to take the risk, big profits are available overseas, where shortages have sent prices for gallium, germanium and antimony to records. The three minerals were already subject to export licensing controls when China banned exports to the U.S. China's exports of antimony and germanium are still below levels hit before the restrictions, according to Chinese customs data. Beijing now faces a challenge to ensure its export-control regime has teeth, said Ben Tzion. "While having all these policies in place, their enforcement is a completely different scenario," he said.
Economic Times
27 minutes ago
- Economic Times
ETMarkets Smart Talk: Fixed income still has a place in FY26 - 15–20% allocation ideal for most, 70% for seniors, says Aamar Deo Singh
In a market environment where equities often steal the spotlight, fixed income continues to quietly play its crucial role in portfolio construction—especially for risk-averse investors and retirees. In this edition of ETMarkets Smart Talk, we speak with Aamar Deo Singh, Sr. VP – Research at Angel One Ltd, who shares why fixed income still deserves a place in every investor's portfolio. Singh suggests a 15–20% allocation for the average investor to hedge against volatility and as much as 70% for senior citizens, underlining the importance of stability and capital preservation in uncertain times. From sectoral outlooks to asset allocation strategies for FY26, Singh breaks down what smart investing looks like in the months ahead. Edited Excerpts – ADVERTISEMENT Q) Thanks for taking the time out. Nifty closed with marginal gains in June, but for the first six months of 2025 – it is up over 7%. How do you see markets for the rest of FY26? Any big events to watch out for?A) Overall, markets have witnessed a sharp pullback from the lows of April, to rally by almost 18% from the low, to trade as high as 25,669 in June, clearly indicating the inherent strength of the market. Given the geo-political tensions between Iran & Isreal, spike in Crude Oil prices, Trump Tariffs threats, markets have displayed an unusual level of resilience, which bodes well for the rest of FY26. Given that domestic macros are positive, with CPI well below RBI's target rate of 4%, a declining trend in the interest rates, expected pick up in credit offtake in coming quarters, are expected to infuse bullish momentum in the we see any major global meltdown, Nifty does hold the potential to hit record highs in the coming quarters. ADVERTISEMENT Q) How are you managing the volatility in your portfolio? Any key learnings which you would like to share from 1H2025?A) One needs to bear this in mind that there is getting away from volatility and one will need to learn to live with volatility, sometimes less, sometimes going forward, fresh triggers, both negatives and positives, both domestic and global, will continue to drive the markets. ADVERTISEMENT So, it becomes a prudent approach to have a mix of stocks in one's portfolio, across multicaps, with a significant weightage to largecaps, in case one's risk appetite remains on the lower one also needs to ensure that one does not stay concentrated in any one particular sector, no matter, how much promising it might appear to be. ADVERTISEMENT Q) One of the reports suggested that India Inc.'s profits have grown nearly 3x faster than GDP since FY20. What structural factors are driving this divergence?A) India's GDP growth continues to remain amongst the fastest in the world, and it is expected that over the next couple of decades, it will continue to maintain its momentum with 6% plus annual growth rate. ADVERTISEMENT The changing demographics, government's impetus on scaling up the manufacturing base, assisting businesses in building infrastructure, focus on leveraging latest technologies, greater emphasis on growing exports at a faster pace, all these factors have aided the country's growth and led to multifold growth in profitability of India Inc. Q) With the China+1 theme gaining traction, which Indian sectors are best placed to attract global capital and scale? A) Post Covid and post Trump's tariff threats, India continues to remain in a sweet spot as the world, particularly the US & Europe, are looking at building alternate sources for their requirements, and with India's technological capabilities, cost competitive manpower advantage, and the necessary infrastructure along with incentives, have helped India scale up its production and manufacturing capabilities, over the past few sectors such as defence, capital goods, consumer durables and infrastructure, are few sectors which are likely to attract global capital and scale in coming years. Q) How is fixed income as an asset class looking for long term investment. How much money should one allocate as a hedge to combat volatility? A) Fixed income as an asset class generates a significant amount of interest in investors, as this is an asset class, which generally helps in protection of capital, during volatile the investors who invest in this asset class, are more of the risk-averse type, looking at steady income flows rather than focussed too much on capital one should definitely look at investing 15%-20% of one's capital in Fixed Income assets, and higher proportion, in excess of 70%, is recommended for senior citizens. Q) Which sectors are likely to remain in the spotlight in 2H2025? A) Sectors that are likely to remain in focus in 2H2025, include the likes of financials, defence, capital goods, pharma, energy, to make a few. Auto ancillaries are also expected to do well, in the coming quarters, once we see an upick in credit offtake, post the 100 basis CRR cut by the RBI in its last MPC meeting, the effects of which are expected to be felt from September onwards, wherein expectation of over 2.5 trillion rupees are expected to additionally flow in the financial system. Q) Can we say that we are in a "stock picker's market" ahead. If yes, what are the key traits investors should look for in FY26 picks? A) It is true that money isn't going to come easy in the current market scenario, and it is a stock picker's market because given the sharp run-up across the board, across sectors, valuations in many cases don't come it is always prudent to remember the fact that the company might be a good investment from a long-term perspective, the million-dollar question is at what it makes sense to do a stock SIP in companies from a long-term perspective. Else one can also look at ETFs as an option as well. Q) Gold has also seen a tremendous run in 2025 – how do you see the yellow metal shining in 2H2025? Time to book profits or add on dips? A) Gold has outperformed all asset classes this year, so far in 2025, with domestic gold prices up by almost 25% YTD, clearly indicating the love for the yellow metal, amongst the investor class. Further, with the significant weakness seen in the US Dollar, and with the Trump Tariffs jitters initially, gold, also considered a safe haven asset, witnessed sharp untick in buying from central banks who are even more keen in diversifying their foreign exchange reserves, apart from ETFs which too witnessed significant inflows, with global holdings rising by 397 tonnes in first half of 2025, the largest increase in the past five years. Gold should be part of everyone's portfolio and holding it from a long-term perspective definitely merits attention. Q) How should one play the small & midcap theme? Has the profitability improved compared to largecaps – what does the data suggest? A) As far as the small & midcap are concerned, investors need to adopt a cautious approach because history has shown us that the fall is faster than the rise, and the fall is extremely steep, many times in excess of 50% erosion in caps on the other hand, are more of the 'slow & steady' category, so ideally having a mix of all, would be a more appropriate approach, depending on one's risk appetite. Q) Any sector which is running out of steam and investors should carefully pare their positions? A) Defence stocks have witnessed a spectacular rally, and post the India-Pakistan conflict, this sector has once again taken off, with prices of some of the stocks hitting record highs and expensive it would be wise to not invest all at one go in this sector, rather adopting an SIP mode over the long-term, would deliver better results. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
&w=3840&q=100)
Business Standard
34 minutes ago
- Business Standard
Can China compete against US in AI talent war with homegrown minds?
The latest eye-watering artificial intelligence outlays aren't going toward high-end chips or data-center buildouts, but individuals. The competition for AI talent prompted Meta Platforms Inc. to reportedly offer sign-on bonuses of $100 million to lure senior staff from rivals. It feels 'as if someone has broken into our home and stolen something,' OpenAI's chief research officer said of the aggressive poaching in a memo to staff obtained by Wired. The latest victim: Apple Inc., which just lost top executive Ruoming Pang to Meta. It's telling that so many of the superstar players US tech titans are boasting about adding to their rosters are of Chinese origin. Including Pang, eight out of the 12 new recruits to the Meta Superintelligence Labs team graduated from universities on the mainland before pursuing careers abroad. It means that a key driver of the global AI race is an intense scramble for the people building it: Chinese talent. But American business leaders shouldn't assume that the big paychecks alone will win an international talent contest. Researchers at Harvard University last month said that the number of high-impact scientific publications shows that China dominates in 'raw human capital for AI.' This helps drive indigenous research despite US advantages in computing power and investment. Top workers may still be keen on making money overseas, but that doesn't mean a lot of them won't stay at home. Separate researchers at Stanford University in May analyzed data on the more than 200 authors listed on DeepSeek's technical papers. The firm's success story is 'fundamentally, one of homegrown talent,' they found. Half of DeepSeek's team never left China for education or work, and those who did ultimately returned to pursue AI development. This has policy implications for the US. China looks at international experience less as a brain drain and more as a way for researchers to acquire knowledge before returning home, the Stanford paper said. The US 'may be mistakenly assuming it has a permanent talent lead.' It aligns with other data that suggests America has been losing its allure as a destination for top-tier AI researchers. Only 42 per cent of these individuals worked in the US in 2022, compared to 59 per cent in 2019. During that same period, China was closing the gap fast, rising to 28 per cent from 11 per cent. The Chinese government, meanwhile, has been funding AI labs and research at universities as part of industrial policy. It's not clear how well this investment has paid off, but it has helped incubate talent who went on to support breakthroughs at private companies. One of DeepSeek's keystone papers, for example, was co-authored by scholars at Tsinghua University, Peking University and Nanjing University. In this way, China has been building up an ecosystem of innovation that doesn't center around poaching individual star players. Domestic firms are less able to spend so lavishly to attract top talent. US private investment in AI was nearly 12 times the amount in China, according to one analysis. Earlier this year, state-backed news outlet the Global Times reported on the 'high-paying job offers' from DeepSeek, which could amount to annual income of some 1.54 million yuan per year (just under $215,000). It's a significant sum in urban China, but hardly the instant millionaire-minting figures being tossed around in Silicon Valley. DeepSeek is nonetheless in the midst of a recruiting blitz — one that's trying to attract overseas Chinese AI researchers to come back home. It has posted a spate of roles on LinkedIn, a platform that's not used domestically. As my colleague Dave Lee has written, this is about more than just money, but instead convincing workers that their contribution 'will matter most in the history books.' DeepSeek may be hoping that this pitch will work on homesick Chinese talent. Ultimately, just under half of the world's top-tier AI researchers come from China, compared to 18 per cent from the US. Many may be seeking opportunities abroad, but Beijing is pulling all its levers to convince at least some to stay at a time when America isn't signaling a warm welcome. Mind boggling sign-on bonuses from Silicon Valley may be enough to win a cross-border battle for talent, but time will tell if it's enough to win the war.
