"Electric bike maker Matter targets $150 million investment surge by 2028."

Ahmedabad-based electric motorcycle manufacturer Matter recently said it plans to invest $150 million (around ₹1,350 crore) over the next three years to expand its product portfolio, including the launch of its first electric scooter in 2028.

The company is targeting annual sales of 1.5 lakh to 1.8 lakh electric two-wheelers by the 2028 calendar year. Matter has already invested $100 million to date and will deploy the additional capital during calendar years 2026, 2027 and 2028 towards distribution expansion, technology development and ramping up manufacturing capacity.

“Up till now we have invested $100 million and over the next three years we will be investing $150 million across the board, including distribution, technology and plant ramp-up. We currently have a capacity of 1.2 lakh units per annum, which will be expanded as and when required,” Mohal Lalbhai, Founder of Matter, told businessline.

The company aims to sell about 20,000 electric two-wheelers in the current calendar year, up from a few thousand units last year, and is present in 15 cities. Matter plans to step up its expansion from this month to significantly increase its reach across India