Jaipur-based two-wheeler electric vehicle (EV) company has started bookings for its upcoming electric motorcycle Hop Oxo. While the price and specifications of the electric bike are not out yet, it is expected that the company will introduce Hop Oxo targeted at the commuter segment.
Several Hop dealers have started putting up banners saying they accept pre-bookings for the electric bike. Hop Oxo received the green flag from the Automotive Research Association of India (ARAI) last month.
Ketan Mehta, Co-founder & CEO, Hop Electric, at the recent E2W conference organised by Mobility Outlook, noted that his company had to postpone Hop Oxo's launch three times to ensure that the electric bike is safe for the consumer. 'We want to launch a perfect electric bike and hence postponed the launch three times to work on the issues,' he said.
Hop Oxo, as per the company, has completed 75,000 km of test runs in different terrains and weather conditions of the country. Once launched, the bike may compete against the likes of Hero Splendor and TVS Raider in India. Notably, the company has been giving test rides of Hop Oxo at several of its dealerships in India.
Experts, every then and now, have pointed towards the need to have an electric commuter motorcycle in the country to increase the adoption of EVs here. It is worth adding that most high-speed electric two-wheelers in India are electric scooters. While many start-ups have promised to launch electric motorcycles in the past, only a handful have stuck to the same.
Hop might be able to gain immediate traction for its first electric motorcycle in India because of its 150 Hop dealerships in the country. The company, as a matter of fact, has been on a dealership opening spree and has inaugurated over 60 new dealerships in India during the last six months.
Also, a part of the Government of India's Production Linked Scheme (PLI) for the Automobile and Auto component industry under the New Non-Automotive Investor (OEM) category, Hop Electric's portfolio of electric vehicles includes Hop Leo and Hop Lyf electric scooters. Hop Oxo will be the OEMs third EV in India.
A total of 231,338 units of electric two-wheelers were sold in India in FY22. JMK Research estimates that E2W sales will reach 30 lakh units in the next five years, witnessing a CAGR of 84% from FY2021 to FY2026.