HOP Electric eyes 3-fold rise in sales

New Delhi: HOP Electric is targeting up to three-fold rise in its annual sales in 2024 and is preparing to launch an electric motorcycle equivalent to the mass market entry level bikes of conventional engines to shore up volumes, according to company Founder & CTO Rahil Gupta.

The company, which has two electric scooters and an electric bike in its portfolio, is also looking to raise around $25 million next year to fund production capacity expansion. “In the last three years we have been growing 100 per cent each year. I think 2024 will be no different,” Gupta said when asked about the outlook for the next year.