Archive · 14 Nov 2025
Matter EV Startup Aims for 25,000 Sales Next Fiscal Year
An electric bike company called Matter, based in India, is planning to sell many more bikes next year.
They started making bikes in July and have sold about 1,000 so far.
They hope to sell 2,500 bikes by the end of this year.
Next year, they want to sell 10 times more, reaching 25,000 bikes!
The company has grown from a small team to nearly 1,000 employees, including many engineers.
They have built a large factory and are already thinking about making it bigger in the future.
They have also raised a lot of money from investors and plan to get more money soon to create new bike designs.
Most of the parts for their bikes are made in India, but they still need to import a few important things like batteries and computer chips.
They are looking into making their own batteries in India to help with this.
The company has also invented many new things and has a lot of patents for their technology.
Ahmedabad-based EV startup Matter anticipates a tenfold increase in sales to 25,000 units in the upcoming fiscal year.
The company has invested ₹700 crore in its Ahmedabad manufacturing facility with a current capacity of 5,000 vehicles per month.
Matter has raised $45 million in funding across two rounds and plans another funding round early next year for new model development.
The company has a high level of indigenization, with nearly all of the 900 parts in their bikes being manufactured domestically, except for four key imported components.
Matter has launched its Aera 5000 and Aera 5000+ models, priced at an introductory offer of ₹1.93 lakh (ex-showroom).
- Who
- Matter, an Ahmedabad-based electric vehicle startup and bike manufacturer.
- What
- Expects a tenfold increase in sales to 25,000 units next fiscal year and plans to raise further funding for new model development.
- When
- Production started in July of the current year. Sales of around 1,000 units have been made. Targeting 2,500 sales by year-end, 25,000 next fiscal. A new funding round is planned for early next year. Article published November 14, 2025.
- Where
- Manufacturing facility in Ahmedabad, India; new models launched in Chennai.
- Why
- To meet anticipated demand, introduce new models, and potentially manufacture batteries domestically.
Matter's Current State
Matter's Future Plans
Sales Targets
Matter's Current State
Company has sold around 1,000 vehicles and is targeting 2,500 vehicle sales by the end of the current fiscal year.
Matter's Future Plans
Company expects a tenfold increase in vehicle sales to 25,000 units in the next financial year.
Manufacturing Capacity
Matter's Current State
Current production capacity is 5,000 vehicles in a single shift per month.
Matter's Future Plans
Plans to double capacity by introducing a double shift in 2027-28.
Funding
Matter's Current State
Has raised $10 million in June 2022 and $35 million in July 2024.
Matter's Future Plans
Plans to raise another round of funding early next year to introduce new models.
Indigenization of Parts
Matter's Current State
Nearly all 900 parts are manufactured domestically, with four key imported components: cell, lithium batteries, semi-conductor, magnet, and display.
Matter's Future Plans
Exploring the possibility of manufacturing batteries in India.
- Company
- Matter
- Industry
- Electric Two-Wheeler Manufacturing
- Founded
- 2019
- Headquarters
- Ahmedabad, India
- Current Production Capacity
- 5,000 vehicles/month (single shift)
- Target Sales (Current Fiscal)
- 2,500 units
- Target Sales (Next Fiscal)
- 25,000 units
- Aera 5000/5000+ Price
- ₹1.93 lakh (ex-showroom introductory offer)