The Charged-up Entrepreneur: Mohal Lalbhai, Founder & CEO, Matter A testament to their success is the overwhelming response to MATTER'S AERA, India's first geared electric bike, with an impressive 40,000 prebookings. Deliveries are slated to commence this year, marking a significant milestone
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In the realm of technology-led enterprises, Mohal Lalbhai, a 34-year-old scion of a business dynasty, has emerged as a pioneer with the establishment of MATTER in 2019. This startup, situated in the dynamic energy-tech sector, is dedicated to reshaping the landscape of new-age mobility and energy storage.
Armed with a degree in material science from the University of Sheffield, Mohal's entrepreneurial journey at MATTER is defined by a commitment to innovation. The company's technological prowess is evident in the bespoke electric motorcycle, from meticulously designed motors to cutting-edge transmission systems, battery packs, and management systems, MATTER has achieved a breakthrough with the introduction of India's inaugural geared electric motorbike.
So what led him to start this venture?
As he explains, "The mobility transformation had to be creating a unique proposition of aspiration and performance, while delivering extraordinary value and reliability. The idea of solving the issue with tech innovation is where the 'aha' moment happened." What sets MATTER apart is its anticipation of the evolving experiential nature of the mobility sector. Mohal emphasizes the company's vertical integration, where every component is crafted in-house, giving them unparalleled control over the technology. With this approach, MATTER is poised to redefine the future of riding.
A testament to their success is the overwhelming response to MATTER'S AERA, India's first geared electric bike, with an impressive 40,000 prebookings. Deliveries are slated to commence this year, marking a significant milestone. The first manufacturing facility, boasting an annual production capacity of 60,000 units, is ready to roll and set to double its output within the same year. Anticipating future demands, a second mega-manufacturing facility is on the horizon for 2025, with an annual production capacity of 10 lakh units.
Looking ahead, Mohal envisions reaching an ambitious annual business goal of a million EV 2-wheelers within the next five years, projecting revenues exceeding $2 billion. What Mohal has pioneered with MATTER is not just a business venture; it is a transformative force set to deliver maximum impact toward a sustainable future.
