It seems that we would witness another new electric motorcycle enter the Indian market soon as HOP Electric's HOP OXO is now ARAI certified. The upcoming electric vehicle has cleared all the tests conducted by ARAI, including AIS 156 for batteries. The ARAI certification comes on the heels of HOP Electric's successful mandate of the Government of India's (GOI) ambitious Production Linked Incentive (PLI) scheme for Auto under the New Non-Automotive Investor (OEM) category. Under this mandate, the company will be investing more than INR 2000 crore in India in the next five years.
For the uninitiated, HOP Electric Mobility
recently closed a strategic round of USD 2.6 million as part of an ongoing USD
10 million pre-series fundraiser. Furthermore, the company reached 130 retail
touchpoints with 6200+ on-road scooters in 2021. With the latest funding, it
plans to target 10X growth this year.
As part of the beta-testing program, HOP
OXO has completed 75,000 km of road testing across 14 states with selected
dealer partners. The company is now making provisions for HOP OXO's commercial
production and scheduled to be launched in late July or early August. It is
pertinent to note that HOP OXO has been designed and developed indigenously in
compliance with FAME II norms.
