HOP Electric Mobility founder and CEO Ketan Mehta said that the company intends to spend up to Rs 200 crore on new products, charging infrastructure, and increased production capacity in the upcoming year.
The business, in collaboration with its component suppliers, unveiled the HOP OXO high-speed electric motorcycle with prices starting at Rs 1.25 lakh. It is also establishing an electric vehicle park in Neemrana, Rajasthan.
“Cumulatively, till now we’ve invested close to Rs 50 crore in this business, and going forward we are ready to put in up to Rs 200 crore in less than next 12 months,” Mehta said.
