Latest news with #MatterMotorWorks
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Business Standard
3 days ago
- Automotive
- Business Standard
Matter Motor Works hunts for new tech as rare earth stocks deplete
Electric motorcycle startup Matter Motor Works has enough rare earth magnets to sustain production for three to four months but is actively exploring alternatives, said Founder Arun Pratap Singh in an interview with Business Standard on Thursday. The Ahmedabad-based firm, which has raised $75–80 million since 2019, is working to avoid supply disruptions following China's curbs on rare earth exports. 'Not today. We've got stock for three to four months. But it will become a problem,' Singh said when asked about the impact of the shortage. 'I was in China sometime back. We had a meeting with our supplier. We thought we had a solution, but today, that solution is not working. We're trying to talk to them and find a way forward,' said Singh, who is the group chief operating officer of the company. He added that Matter currently imports only three critical components: rare earth magnets, battery cells, and semiconductor chips — all of which are not manufactured at scale in India. 'Everything else, we have here in India,' he said. 'We have stock for three to four months... then we will have a problem. So for me, the target is to solve this shortage issue within the next two months so that our production is not impacted,' he said. To address the looming supply challenge, Matter is evaluating magnet technologies that do not rely on rare earth elements. 'There are magnet manufacturers in the world who are developing magnets without these rare earth minerals. There are different technologies. We're talking to them too, and at the right time, we will switch over from these magnets,' he said. Launched in October 2024, Matter's first product — the Aera electric motorcycle — is currently sold in Ahmedabad, Jaipur, Bengaluru, Pune, and Delhi. The company plans to expand to 30 outlets across 20 cities by August and has set a sales target of 10,000 units for the current financial year (2025-26), scaling up to 50,000–60,000 units next year. According to Singh, non-rare earth magnets are only 5–7 per cent costlier and offer similar performance — making them a viable alternative as Matter ramps up production. China, which controls a sizeable share of global rare earth supplies, imposed export controls on several critical elements in April, citing national security concerns. These include samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium — metals used in high-performance magnets — along with related alloys and components. The Aera is priced at ₹1.93 lakh for the base model (Delhi ex-showroom). Singh acknowledged that a petrol bike offering similar performance would cost about ₹30,000 less but said electric bike buyers can recover that through lower fuel costs. 'The customer understands that electricity is a cheaper and more predictable fuel,' he said. Matter is also in the process of applying for subsidies under the central government's PM E-DRIVE (Electric Drive Revolution in Innovative Vehicle Enhancement) scheme. This support could lower the effective cost of the bike by another ₹5,000. 'Government support is important for customer confidence, but it is not a primary factor in our pricing,' Singh observed. Matter is targeting younger riders between the ages of 18 and 24, banking on design, performance, and long-term affordability to build traction in the competitive electric two-wheeler market.
Time of India
3 days ago
- Automotive
- Time of India
Matter to launch one EV bike each year; targets 60 dealerships in FY26
Matter Motor Works , 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.
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Business Standard
3 days ago
- Automotive
- Business Standard
Matter Motor plans to launch one electric bike annually over next 3 years
The Ahmedabad-based company plans to open up to 60 dealerships across the country this financial year, with the majority of them in South India Press Trust of India Electric motorcycle maker Matter Motor Works plans to launch one new model every year in the next three years as it looks to accelerate volume growth, its Co-founder and Group COO Arun Pratap Singh said on Thursday. The Ahmedabad-based company, which on Thursday launched its geared electric bike AERA in the Delhi market, plans to open up to 60 dealerships across the country this fiscal, with the majority of them in South India, Singh told PTI here. "There are products planned, at least a new launch every year. So that's what we can see for the next three years," he said when asked about the company's product pipeline. He said the company is focusing on electric motorcycles only at present and is not looking at electric scooters "as of now". On the company's first model AERA, he said, "We took almost six years to develop the vehicle. We started deliveries in October last year." The company had confined sales in the Ahmedabad market for the first six months to study consumer feedback and made "small tinkering", he noted. "Now we are moving across India to start deliveries," Singh said. On sales network expansion, he said, "We are ramping up. We are planning to set up almost 30 dealerships by August, and we should be closing almost 50 to 60 dealerships by this financial year end." He further said, "From the distribution side, we have a larger presence coming up in South India. Out of the 30 dealerships (by August), 20 dealerships will be coming in the South." The segment in which the company is present is more popular in South India, he noted. In terms of sales, Singh said, "We intend to close around 10,000 vehicles in the first year. Second year, it should be around 50,000 to 60,000 vehicles and beyond that, it is difficult to project." The company's manufacturing unit in Ahmedabad has a capacity to roll out 10,000 units a month. When asked about investments, he said the company is utilising funds of up to $80 million that it has already raised. Singh reiterated that Matter is looking to raise a further $200 million in the next couple of years before it looks for an initial public offering in three to four years' time. When asked about supply constraints of rare earth magnets, he said that currently, the company is in talks with its partners in China to resolve the issue. "But parallelly, we are also looking at alternatives so that we do not get into this kind of situation next time," Singh said. Stating that there are companies outside the Chinese region which have permanent magnets without rare earth minerals, he said, "We have started talking to them and the results will come out soon. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
3 days ago
- Automotive
- Time of India
Matter Motor Works plans to launch one electric bike annually over next 3 years
Matter Motor Works is set to launch a new electric motorcycle model annually for the next three years, aiming to boost volume growth. Following the Delhi launch of its AERA electric bike, the company plans to establish up to 60 dealerships nationwide this fiscal year, with a strong focus on South India. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Renewables Tired of too many ads? Remove Ads Electric motorcycle maker Matter Motor Works plans to launch one new model every year in the next three years as it looks to accelerate volume growth, its Co-founder and Group COO Arun Pratap Singh said on Ahmedabad-based company, which on Thursday launched its geared electric bike AERA in the Delhi market, plans to open up to 60 dealerships across the country this fiscal, with the majority of them in South India, Singh told PTI here."There are products planned, at least a new launch every year. So that's what we can see for the next three years," he said when asked about the company's product said the company is focusing on electric motorcycles only at present and is not looking at electric scooters "as of now".On the company's first model AERA, he said, "We took almost six years to develop the vehicle. We started deliveries in October last year."The company had confined sales in the Ahmedabad market for the first six months to study consumer feedback and made "small tinkering", he noted."Now we are moving across India to start deliveries," Singh sales network expansion, he said, "We are ramping up. We are planning to set up almost 30 dealerships by August, and we should be closing almost 50 to 60 dealerships by this financial year end."He further said, "From the distribution side, we have a larger presence coming up in South India. Out of the 30 dealerships (by August), 20 dealerships will be coming in the South."The segment in which the company is present is more popular in South India, he terms of sales, Singh said, "We intend to close around 10,000 vehicles in the first year. Second year, it should be around 50,000 to 60,000 vehicles and beyond that, it is difficult to project."The company's manufacturing unit in Ahmedabad has a capacity to roll out 10,000 units a asked about investments, he said the company is utilising funds of up to USD 80 million that it has already reiterated that Matter is looking to raise a further USD 200 million in the next couple of years before it looks for an initial public offering in three to four years' asked about supply constraints of rare earth magnets, he said that currently, the company is in talks with its partners in China to resolve the issue."But parallelly, we are also looking at alternatives so that we do not get into this kind of situation next time," Singh that there are companies outside the Chinese region which have permanent magnets without rare earth minerals, he said, "We have started talking to them and the results will come out soon."
