Matter Inks MoU with Government of Gujarat to Invest in Electric Vehicles and Energy Storage

Ahmedabad, India – Matter, a transformative technology start-up focused on electric mobility and energy storage, recently signed a Memorandum of Understanding (MoU) with the state government of Gujarat. The MoU highlights Matter’s commitment to invest INR 1500 crore in next-generation electric mobility and energy storage solutions over the next five years. INR 1200 crore will be invested in electric mobility, with the remaining INR 300 crore going towards energy storage. Over the next five years, these investments will also create about 4,000 jobs in the state.

The MoU was signed in the presence of Gujarat Chief Minister, Honorable Shri Bhupinder Partel by Mohal Rajiv Lalbhai, Founder and CEO, Matter. Arun Singh, Founder and COO, Matter, along with Pankaj Kumar (IAS), Chief Secretary, Government of Gujarat, Dr Rajiv Kumar Gupta (IAS), Chairman of Gujarat Mineral Development Corporation Ltd, and K Kailashnathan (retd IAS), Chief Principal Secretary to the Chief Minister were also present at the signing ceremony.

Stating that the company is committed to redefining electric mobility and energy storage in India, and the MoU reflects the steps the company is taking in this regard, Lalbhai added, “We have committed to making an investment of INR 1500 crore with the state government of Gujarat, counted among India’s most progressive and industry-friendly states. The investment spread across five years has the potential to generate 4,000 jobs in the state and will go a long way in building the foundation of Matter as a transformative technology start-up in the country and beyond.”

Image Source: Matter

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