Ahmedabad-headquartered EV tech and energy storage firm Matter Group has secured the first tranche of $35 million (INR 2.91 billion) in the current investment round. 

The investment was led by Helena, a US-based global problem-solving organisation, which invested through its venture capital arm. Other notable investors include Capital 2B, Japan Airlines & Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), other Institutional investors and Family Offices. 

The capital the company says will help accelerate its efforts to scale manufacturing, supply chain, marketing and retail to meet the growing demand for sustainable, high-performance mobility solutions.

Mohal Lalbhai, Founder & CEO, Matter Group said, “We at Matter welcome Helena and notable investors – including Capital 2B, Japan Airlines & Translink Innovation fund, SB Invest, other Institutional investors and family offices – with much excitement on this fascinating journey. We are dedicated to creating accessible, reliable, and high-performance products driven by our innovative technology. Leading this complex mobility transformation are over 600 Matter innovators, who keep riders at the forefront of our efforts.”

Suprotik Basu, Managing Partner, Helena added, "We believe it is an inevitability that transportation in this market will electrify, and India is the most exciting place in the world for that transition to materialise. The question is which team will be nimble, innovative and hardworking enough to seize this moment of transition. The Matter team has impressed us immensely with their approach towards value driven, high performance technology products. It has been wonderful to see the initial positive consumer traction, and strong progress from the company thus far. We are excited to deeply partner with Matter to reshape the electric vehicle landscape for India and for other emerging markets to address our shared global climate challenges.”

Vibhore Sharma, Partner, Capital 2B added, “We are thrilled to be a part of the growth trajectory of Matter Group and their vision of empowering mobility through breakthrough technology, prioritising performance, reliability, safety, and security as core principles. The team at Matter has successfully developed a unique blend of great performance and best value that is poised to transform the entire two-wheeler industry with their electric motorbikes.”

Takao Suzuki, Executive Officer, Senior Vice President – Innovation at Japan Airlines, "The Japan Airlines & Translink Innovation Fund is dedicated to fostering sustainable and innovative businesses through pioneering use of cutting-edge technologies and business collaborations in mobility, digital, ESG-related, and other fields. We are pleased to collaborate with Matter to explore the potential of MaaS (Mobility-as-a-Service) by adding electric motorcycles and energy storage technology to JAL's new challenge through our investment in Matter Group.” 

Sheikh Mohammed Saad Bahwan, MD, SB Invest and Director of OTE Group said, "At SB Invest, we believe in supporting transformative technologies that have the potential to make a global impact. Matter Group's vision and technological prowess makes them a standout player in the energy domain. We are proud to be part of their journey towards energy independence. Our commitment to empowering every individual through efficient mobility gets a clear direction through this association."

The EV company has developed its in-house, hyper-scalable technology stack, leveraging data, software and machine intelligence to create what it claims is India’s first 4-speed hyper-shift geared electric motorbike – Aera. The proprietary 5 KWh liquid-cooled battery and powertrain offer great performance and longevity. The e-motorcycle claims to offer over 125km range per charge, with a 5-amp onboard charging system. The Internet-enabled navigation, music, calls, and a 7-inch touchscreen provide information at the user’s fingertips. 

Matter claims it has secured 40,000 pre-bookings for its Aera e-motorcycle, which is set to commence deliveries this festive season. It has also onboarded over 100 dealer partners who will be creating a first-of-its-kind retail experience, reinforced by the most innovative suppliers. 

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Delhi-NCR-based electric vehicle maker Euler Motors has entered the electric three-wheeler passenger category with the 'Neo by Euler' brand.

The company introduced the first vehicle under this brand, the Neo HiRANGE electric three-wheeler, with an introductory price of INR 309,999. The vehicle is designed for last-mile passenger transport in cities.

The vehicles under the 'Neo by Euler' brand will serve a range of customers, including new EV buyers, drivers for ride-hailing services, fleet operators and self-employed owners. Euler Motors plans to roll out these vehicles across 50 Indian cities over the next three to four months.

Euler Motors states that autorickshaws are a vital part of urban transport in India. Its new EV, the Neo HiRANGE, addresses the need for reliable, long-range and durable vehicles in this sector. The company's two years of research and development, which included conversations with over 10,000 auto-rickshaw drivers, shaped the vehicle's design. The Neo HiRANGE is built for Indian roads, with a rugged chassis and real-time diagnostics.

The vehicle comes in three variants: Neo HiRANGE Maxx, HiRANGE Plus and HiRANGE. The top variant offers a range of over 200 km on a single charge and can be charged in 3.25 hours. It has a skateboard chassis, 65 Nm of torque and hill-assist for stable performance. The vehicle includes a warranty of up to six years or 175,000 km and an anti-theft GPS system.

Saurav Kumar, Founder and CEO, Euler Motors, said, "We are excited to enter the commercial passenger EV segment. 'NEO by Euler' reflects our proven leadership in the commercial EV market. It is the result of deep product learning and on ground engagement with auto drivers across Indian cities. We heard firsthand challenges faced by drivers every day, from long fuel queues and unreliable maintenance to passenger discomfort, and low savings. These insights have shaped every aspect of the brand. Drivers want a solution that offers the highest range in a single charge, supports their livelihood, and gives them the confidence to keep moving. 'Neo by Euler' is our response to those needs; a no-compromise brand built for the realities of commercial passenger mobility in India offering best in class passenger comfort, consistent earning to drivers and overall safe solution."

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Bengaluru-headquartered electric vehicle company Ola Electric has announced that it’s Gen 3 e-scooter portfolio has received Certification for Compliance under the Production Linked Incentive (PLI) Scheme for the automobile and auto components sector.

The certification granted by the Automotive Research Association of India (ARAI) will allow Ola Electric to receive incentives from 13 percent to 18 percent of the determined sales value (DSV) until 2028.

At present, the company’s Gen 3 portfolio comprises of S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh.

 “Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability. This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth. With our auto business targeted to turn EBITDA positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices,” said a Ola Electric spokesperson.

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German luxury automotive brand BMW Group India has cemented its leadership in the luxury electric vehicle (EV) market by becoming the first in the segment to deliver over 5,000 EVs in the country. To mark this significant milestone, the company has inaugurated a new high-power charging corridor spanning 4,000 kilometres from North to South, offering charging access to all EV brands.

The new corridor features charging stations every 300 kilometres, effectively linking major cities and highways from Jammu to Madurai. The route covers key locations including Delhi, Jaipur, Ahmedabad, Mumbai, Pune, Bengaluru and Chennai, aiming to eliminate range anxiety for EV drivers.

Vikram Pawah, President and CEO, BMW Group India, said, “BMW Group India is immensely proud to become the first luxury carmaker to cross the remarkable milestone of 5,000 electric vehicle deliveries. This achievement is not just a number, it represents our unwavering commitment to e-mobility and pioneering spirit in the premium EV landscape. At BMW, luxury and performance is delivered seamlessly with sustainability, and our electric products embody this philosophy. In this journey, we will continue to delight our customers with the most electrifying products and services that provide complete peace of mind. To mark this milestone, we are happy to introduce our high-power charging corridor. Across the length of the nation, from Jammu to Madurai, EV customers can now just sit back and enjoy Sheer Driving Pleasure without a second thought.”

In a move to encourage broader EV adoption, BMW Group India has made these new charging stations accessible to all EV owners, regardless of their vehicle's brand. The stations, with capacities ranging from 120kW to an impressive 720kW, are a part of a larger network of over 6,000 charging points across the country, accessible via the myBMW app. The company is collaborating with charging operators like Statiq and Zeon to manage these new stations.

The sales milestone has been attained by the company’s expansive portfolio of EVs compromising the flagship BMW i7 to the popular BMW iX1 Long Wheelbase, which was the highest-selling BMW EV in the first half of 2025.

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Chennai-headquartered two-wheeler and three-wheeler major TVS Motor Company has launched a new electric three-wheeler, the ‘TVS King Kargo HD EV’ at INR 385,000 (ex-showroom Delhi), which it believes will transform urban and semi-urban logistics. The EV is engineered for performance, durability and connectivity in the last-mile delivery sector.

The King Kargo HD EV is designed to improve safety and comfort for operators. It features several segment-first innovations, including LED headlamps and tail lamps for better visibility and a spacious cabin with fully rolling windows. For enhanced performance, it has a dedicated Power Gear Mode that provides higher torque when carrying heavy loads.

The new three-wheeler is also India's first Bluetooth-enabled cargo three-wheeler. It comes equipped with TVS SmartXonnect, offering 26 smart features, along with twin-axis rear-view mirrors for safer navigation through congested city streets. The vehicle’s connected features are managed through TVS Connect Fleet, a web-based platform that gives fleet operators real-time tracking, remote control and advanced analytics for efficient fleet management.

Rajat Gupta, Business Head of Commercial Mobility at TVS Motor Company, said, “The launch of the TVS King Kargo HD represents a transformative moment in the evolution of cargo mobility, aligned to our ‘Re-Imagine 2030’ vision. This three-wheeler will set new benchmarks by delivering an unmatched combination of smart features, high load capability, comfort, ergonomics and safety. Coupled with the TVS Connect Fleet, the vehicle will empower businesses and also improve the everyday life of operators. With the TVS King Kargo HD EV, we are confident of redefining customer expectations and enabling them to achieve more, every day, effortlessly.”

In its initial phase, the TVS King Kargo HD EV will be available in key markets, including Delhi-NCR, Rajasthan and Bengaluru. The company also showcased a CNG variant, which is scheduled for release later this year.

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