HOP Electrical Mobility in talks to grab $10 million to toughen its portfolio

Fresh Delhi: Electrical mobility solutions provider HOP Electrical Mobility is in talks to grab $10 million to toughen its product portfolio and manufacturing footprint within the nation.

The company – which has already got the predominant infusion of $ 2.6 million from a publicly listed strategic investor – expects to shut the series A funding spherical within the next six months. “The resources will likely be utilised to electrify bigger its product portfolio and red meat up backward integration of the present chain to enable indigenous manufacturing of severe parts equivalent to cells, motors and controllers”, Ketan Mehta, Founder & CEO, HOP Electrical Mobility told ET.

HOP Electrical Mobility, a various replace mission of Rays Energy Infra, is one among the three recent non-car traders to qualify below the manufacturing linked incentive map for OEMs earlier this one year.

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