The startup intends to introduce liquid-cooled battery packs in its electric motorcycles, which have been used only in premium motorcycles in India. It posted revenue of ₹14 billion last fiscal.
Jaipur-based electric two-wheeler startup Hop Electric (Hop) will launch a 100cc to 125cc equivalent electric motorcycle in India during the last quarter of fiscal year 2025 (FY 25). With the launch, it aims to take on the market dominated by Hero Splendor, Honda Shine, Bajaj CT110, TVS Star, and more such motorcycles.
Rahil Gupta, CTO & Co-founder, Hop, in an exclusive conversation with the Electronics For You team, shared that the upcoming motorcycle will be targeted towards Bharat (Beyond Tier 1 and Metro cities) and will feature a non-rare earth magnetic motor. The 100cc segment dominates the two-wheeler market in India. Unlike the equivalent scooter segment, where most EV players have introduced scooters competing against the most popular ICE counterparts, nothing substantial has been launched in the electric motorcycle domain.
“We have worked upon a rare earth magnet-free motor for several of our upcoming electric motorcycles and are also working on a new platform named Nimbus,” he says.
Apart from this motor, Gupta believes it will help them position electric two-wheelers at an economical price. He shared that it will also help the startup curb dependency on China for specific components. However, whether the startup will be open to sharing the innovations in the motors with others or not, as per Gupta, has not been decided yet.
“We want to make sure the motor works with our platform first. Right now, we are not open to sharing any of the changes we have made to the same,” he explains.
Also on the list of this startup is a focus on introducing liquid cooling in the mass segment of electric motorcycles. According to Gupta, the tech is unique because it has only been used in premium motorcycles in India so far and Hop Electric might be the first OEM to introduce the same.
“We have developed certain liquid-cooled battery packs and are testing the same for all upcoming electric two-wheelers, including the mass segment electric motorcycle,” he says.
For Hop, the slow-speed electric two-wheeler market is also something that will remain consistent in India for years to come. As a matter of fact, out of the ₹14 billion revenue it posted last year, the majority came from slow-speed scooters.
“We believe that slow-speed electric scooters are what help a lot of Indians experience electric mobility for the very first time. These customers will also be our brand ambassadors in the high-speed electric two-wheeler market,” Gupta explains.
As per Gupta, senior citizens, women, and teenagers will continue to invest in slow-speed electric scooters. He added that slow-speed models still dominate China’s electric two-wheeler market.
Having raised $3 million from external investors, Hop aims to close the current fiscal at revenue north of ₹22 billion. Gupta highlighted that while slow-speed retail revenue will still dominate their overall revenue figures, the share contributed by high-speed motorcycles will increase ‘substantially.’
