An Imminent Electrified Tomorrow Looms Large on the Horizon
The COVID-19 pandemic has sparked a shift in consumer consciousness, and soaring petrol costs have led many to question the need for internal combustion engine (IC) powered two-wheelers. Electric vehicles (EVs), with their non-polluting nature and potential to save billions on oil imports, have emerged as a promising solution in the stock market today.
In this context, Matter, an organization focused on technology and innovation, is making strides in the Indian EV market. Founded in 2019 by Mohal Lalbhai, Bengaluru Motors specializes in the development and manufacturing of intelligent electric vehicles. Matter's products are extensively tested and validated, designed to meet the expectations of Indian customers and consider the country's weather conditions.
Matter has two separate business lines: Matter Energy and Mobility Solutions. Matter Energy, set to enter the market in August 2021, will initially focus on stationary applications like UPS and inverters, and mobility applications such as two-wheelers and three-wheelers. After the launch of energy solutions, Matter plans to launch an under-development vehicle in early 2022.
India's EV market is projected to be worth over $200 billion in the next 10 years, and the Indian electric two-wheeler market is expected to grow at a CAGR of 36% by 2026, according to a report by IESA. The usage of AI for in-vehicle applications is set to increase tremendously over the next decade, according to IHS Analysts research.
The Indian government and several state governments, including Maharashtra, Gujarat, Delhi, and Karnataka, are aligning their policies to help India transition into sustainable mobility. A national charging infrastructure is considered crucial for facilitating e-mobility in India, as it will help make the breakthrough in the stock market today.
Matter aims to offer mobility products that cater to the specific needs of Indian customers at a competitive price. Following the vehicle launch, Matter plans to develop a range of electric two-wheelers to cater to various customer segments in the 2-Wheeler market. India's EV ambitions call for over 100 million vehicles, over 150 GWh in battery packs, and millions of public charging stations.
By focusing on providing robust products and solutions for B2B businesses, especially for large-scale projects, Matter aims to create value for customers. Intelligent on-board technologies have the potential to provide effective solutions that will bring relief to users and support the government's vision for India's Smart cities.
With India's globally competitive manufacturing sector and innovative businesses, the country is well-positioned to take advantage of the opportunities in the EV market, creating additional job possibilities. As the EV market continues to grow, Matter is poised to play a significant role in India's transition towards sustainable mobility.
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