HOP Electric to establish 60-acre EV park in Neemrana: CEO Mehta

Company will raise money for the project by taking debt and through equity sale, he says

HOP Electric Mobility, an electric two-wheeler manufacturer, is acquiring 60-acre land at Neemrana in Rajasthan to establish an electric vehicle (EV) park with production capacity of 5 lakh units per annum, said its co-founder and CEO Ketan Mehta on Monday.

“The total investment, once it is fully occupied and operational, by us as well as our component suppliers and partners will go up to about Rs 1,000 crore cumulatively,” he told 'Business Standard' in an interview.

This investment would be done over a period of 3-4 years, he said.

Asked about HOP's share in this investment, he said the figure