Hop Electric
Hop Electric is an India-based, Jaipur-headquartered manufacturer of electric two-wheelers (OXO, LEO, LYF), founded in 2020. It sells to individual consumers across India via an authorized dealer network, direct website booking, and test ride experiences, supported by a 101-250 person team.
- Company typePrivate
- Founded2020
- HeadquartersJaipur, India
- Headcount101–250
- GTM typeB2C
- OfferingHardware or Manufacturing
What Hop Electric does
Hop Electric Mobility Pvt. Ltd. (DBA: HOP Electric) is an Indian electric two-wheeler manufacturer headquartered in Jaipur, India. Founded in 2020 and operating as a private limited company, the company designs and sells electric bikes under three product names — OXO, LEO, and LYF — targeting individual consumers in the urban personal mobility segment. The company also courts entrepreneurs and businesses as authorized dealers as a secondary customer segment.
The company's business model is hardware sales of electric two-wheelers, distributed through an authorized dealer network across India supplemented by direct website booking, test ride experiences, and WhatsApp-based customer engagement. Go-to-market combines channel partner (dealer) sales with inside sales support (commercial phone line and WhatsApp). Pricing is not publicly disclosed. Marketing is conducted primarily through organic social channels (Facebook, Instagram, LinkedIn, Twitter, YouTube) and a blog/community section on the company website.
Hop Electric is at an early commercial stage: total disclosed capital is approximately $2.6M raised in April 2022 (investor undisclosed) plus a non-cash Brand Capital arrangement from Bennett, Coleman & Co. in January 2023. The company employs 101-250 people and is led by co-founders Ketan Mehta (CEO), Nikhil Bhatia (Chief Business Officer), and Rahil Gupta (CTO). No revenue, M&A activity, partnerships beyond Brand Capital, patents, certifications, or geographic expansion beyond India are disclosed in the available data.
Hop Electric firmographics
Firmographics- Name
- Hop Electric
- Legal name
- HOP Electric Mobility Pvt. Ltd.
- Website
- https://oxo.hopelectric.in
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Hop Electric is an India-based, Jaipur-headquartered manufacturer of electric two-wheelers (OXO, LEO, LYF), founded in 2020. It sells to individual consumers across India via an authorized dealer network, direct website booking, and test ride experiences, supported by a 101-250 person team.
- Ownership category
- akta.pro rank
Hop Electric industry classification
Industry- Product category
- Electric Two-Wheeler Manufacturing
- NAICS
- Motorcycle, Bicycle, and Parts Manufacturing (336991), Motor Vehicle Manufacturing (3361)
- SIC
- Motorcycles, Bicycles & Parts (3751)
- akta.pro primary industry
- E-bikes & E-cargo Bikes Manufacturing (IMACAOAA)
- akta.pro secondary industries
- E-scooters & E-mopeds Manufacturing (IMACAOAB), Electric Motorcycles & Electric Scooters Manufacturing (IMACAEAB), E-Mopeds & Light Electric Motorbikes (Consumer) (CRACASAG)
Keywords
Where Hop Electric is headquartered
LocationHeadquarters
- HQ city
- Jaipur
- HQ country
- India
- HQ region
- Asia
Markets served
Hop Electric business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Marketing or Sales, Personnel, Infrastructure
Revenue model
- Electric Two-Wheeler Sales: Hop Electric generates revenue primarily through the sale of electric two-wheelers, with three models in their product lineup: OXO, LEO, and LYF. The direct sales and dealer network suggest a traditional product sales model.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Hop Electric product offering
Product offeringCore offering
Hop Electric Mobility Pvt. Ltd. manufactures and sells electric two-wheelers (e-bikes and e-scooters) under three product lines — OXO, LEO, and LYF. The company designs, assembles, and distributes these electric vehicles to individual consumers in India through its own dealer network and direct online booking channels.
Product overview
Hop Electric Mobility is an Indian electric vehicle company offering a portfolio of electric bikes. The product lineup consists of three models: OXO, LEO, and LYF, which represent the company's core electric two-wheeler offerings for the consumer market.
Differentiator
Problem solved
Functional benefit
Products and services
- OXO OXO is an electric two-wheeler (e-bike) manufactured by Hop Electric Mobility and sold to individual consumers for personal urban transportation in India.
- LEO LEO is an electric two-wheeler (e-bike) manufactured by Hop Electric Mobility and sold to individual consumers for personal urban transportation in India.
- LYF LYF is an electric two-wheeler (e-bike) manufactured by Hop Electric Mobility, made available to individual consumers through an enquiry-based sales process.
Companies that use Hop Electric
Customer profileSegments2 records
Ideal customer profiles2 records
Hop Electric technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Hop Electric partnerships and signals
Strategic signalRecent moves5 records
Expansion highlights5 records
Hop Electric competitors and assessment
Company assessmentDirect peers
- Ola Electric Mobility: India's largest electric two-wheeler manufacturer offering scooters (S1 series) with a direct-to-consumer and dealer hybrid model. Direct competitor to Hop Electric in the Indian EV two-wheeler space.
- Ather Energy: Bengaluru-based premium electric scooter maker (450X, Rizta) competing in the same Indian urban commuter segment as Hop Electric, with a comparable dealer-plus-D2C distribution approach.
- Hero Electric: One of India's longest-established electric two-wheeler brands with a wide portfolio (Optima, Photon, NYX). Competes head-to-head with Hop Electric across mass-market price points.
- Okinawa Autotech: Indian electric two-wheeler manufacturer (Ridge+, PraisePro, iPraise+) targeting similar mass-market commuter buyers as Hop Electric, with a comparable dealer-led GTM.
- Bounce Infinity: Bengaluru-based electric scooter maker with battery-swap technology and direct sales. Targets the same urban commuter segment as Hop Electric with innovative ownership models.
- Simple Energy: Indian EV startup (Simple One) offering premium electric scooters. Directly comparable to Hop Electric in product positioning and target customer base, though focused on higher-spec offerings.
- Ampere Vehicles: Electric two-wheeler brand owned by Greaves Cotton, offering affordable e-scooters (Zeal, Magnus). Competes with Hop Electric in the value/commuter segment with strong dealer distribution.
- Revolt Motors: Electric motorcycle maker (RV400, RV1) competing in the higher-performance two-wheeler category. Comparable to Hop Electric's OXO positioning as an electric bike rather than a stand-up scooter.
Broad incumbents
- TVS Motor Company: Large incumbent two-wheeler OEM that has launched the iQube electric scooter. Competes with Hop Electric in EV two-wheelers while also dominating ICE segments, making it a much broader portfolio player.
- Bajaj Auto: Incumbent two-wheeler giant that has entered the electric segment with the Chetak Electric. While primarily ICE-focused, Bajaj's brand, dealer network, and capital base make it a major competitor to Hop Electric.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Hop Electric social profiles
Digital presenceHop Electric financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hop Electric leadership team
Management profileNumber of profiles
Profiles3 records
Hop Electric funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hop Electric M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hop Electric
What does Hop Electric do?
Hop Electric Mobility Pvt. Ltd. manufactures and sells electric two-wheelers (e-bikes and e-scooters) under three product lines — OXO, LEO, and LYF. The company designs, assembles, and distributes these electric vehicles to individual consumers in India through its own dealer network and direct online booking channels.
Is Hop Electric a public or private company?
Hop Electric is a private company. It is classified as venture growth investor backed and is currently operating.
When was Hop Electric founded?
Hop Electric was founded in 2020. It employs 101 to 250 people.
Where is Hop Electric based?
Hop Electric is headquartered in Jaipur, India, in the Asia region.
How does Hop Electric make money?
One revenue line is on record: electric Two-Wheeler Sales.
Who are Hop Electric's main competitors?
Direct peers on record are Ola Electric Mobility, Ather Energy, Hero Electric, Okinawa Autotech, Bounce Infinity, Simple Energy, Ampere Vehicles and Revolt Motors. Broad incumbents are TVS Motor Company and Bajaj Auto.
Does Hop Electric have an API?
No public API is recorded for Hop Electric.
What industry is Hop Electric in?
Hop Electric's product category is Electric Two-Wheeler Manufacturing. Its primary akta.pro industry code is IMACAOAA, E-bikes & E-cargo Bikes Manufacturing, with a secondary code of IMACAOAB, E-scooters & E-mopeds Manufacturing. Its NAICS code is 336991 and its SIC code is 3751.