HOP Electric Mobility plans to invest up to Rs 200 crore in next one year on new products, setting up charging infrastructure and in creating additional production capacity.

The company is also setting up an electric vehicle park at Neemrana in Rajasthan, jointly with its component suppliers.

Till now company has invested close to Rs 50 crore in this business and plans to put in up to Rs 200 crore in next one year.

The fresh investments will go into setting up of charging network for the company's products, which will later be opened up to other brands.

The investments will also be used on new products, including upgrading of HOP's low-speed electric scooters to high speed, besides the EV park which will also have a new production unit.

The new plant at Neemrana will have an annual production capacity of 5 lakh units. The first phase of the plant is expected to be operational by mid-2023.

The company currently is acquiring land for developing a new EV park at Neemrana in the state of Rajasthan which is 60 acre.

Total investment into this EV park will be jointly done by HOP and its suppliers and competent manufacturers.

here is company details.

 

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