Hop Electric Electric Bike

Sunday, 24 December 2023 01:26 PM HOP Electric is planning to launch an electric motorcycle equivalent to mass market entry-level bikes of conventional engines, targeting a three-fold rise in annual sales in 2024. The new bike, part of the Nimbus platform, will compete with bikes like the Hero Splendor and Bajaj Platina. I think this move will significantly boost their market presence.

Sunday, 24 December 2023 07:31 AM HOP Electric aims to sell around 50,000 to 60,000 electric scooters and motorcycles in 2024, up from 20,000 in the current year. The company is also setting up a new manufacturing facility at Neemrana in Rajasthan, expected to start operations by 2025. This expansion will help meet the growing demand for electric vehicles.

Sunday, 24 December 2023 11:17 PM HOP Electric is looking to raise around $25 million in 2024 to fund production capacity expansion and a new facility. The company has been growing at a 100% rate annually over the last three years and plans to continue this growth trajectory. This funding will be crucial for their expansion plans.

Sunday, 24 December 2023 05:52 PM HOP Electrics new platform Nimbus is designed to develop an electric bike that can be customized for various applications, including B2C retail customers and B2B hyperlocal logistics. This versatility could expand their market reach significantly.