Ahmedabad-based Matter Motor Works has unveiled its first electric motorbike Aera in two variants priced between ₹1.43 lakh and ₹1.54 lakh.
“It took us nearly four years to develop this EV from scratch. We will start production soon after getting Automotive Research Association of India certification,” said Saran Babu, co-founder and chief design officer.
Mr. Babu said that the company was in the process of setting up a manufacturing unit in Ahmedabad to make 60,000 units per annum with the $20 million raised recently. It was also planning to raise $75 million in the next fiscal to ramp up production.
According to him, though the company has developed four variants, only two are being displayed now. It will have one uniform pre-register price across India.
