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Nikhil Bhatia
Creating a sustainable future.
Nikhil Bhatia is a co-founder of Hop Electric, a climate-tech startup in the electric vehicle industry founded in 2020.12 He is responsible for operations and strategy at the company, which focuses on developing innovative electric two-wheeler (E2W) solutions.2
Hop Electric was established as a forward integration of the Rays Group's $50 million renewable energy business, leveraging expertise in clean energy solutions to create sustainable transportation options.2 The company has achieved several milestones, including:
- Developing a smart hot-swappable lithium-ion battery and battery swapping station
- Launching two low-speed electric scooters and the high-speed Hop OXO electric motorcycle
- Establishing over 150 retail outlets and selling more than 11,000 E2Ws
- Generating $11 million in revenue
- Being recognized as a Champion OEM under the Government of India's Production Linked Incentive (PLI) Scheme2
Nikhil Bhatia's LinkedIn profile (username: bhatianikhil13) indicates that he has been with Hop Electric for about 3 years.34 The company aims to contribute to a 90% transition of two-wheeler sales to electric vehicles by 2030, potentially reducing CO2 emissions and oil consumption significantly.2
Highlights
What's After FAME II ?
Shared the stage & thoughts with Debi Prasad Dash, Subrata Mitra, Pratik Gupta, Rohit Pathania, hemanth kumar, and Nitish Arora, yesterday at IESA IEMC EV Stakeholder Consultation Meeting in Delhi hosted by India Energy Storage Alliance (IESA).
Interesting ideas and agendas were floated on how to propel the industry forward with or without subsidies.
My two cents -
Simplicity, Clarity & Certainty is what is required from the Govt on the Policy front.
- Product development journeys are long, tedious, and capital & time-demanding. Design & engineering should be focused on delivering value to consumers rather than designing for the policy.
- To take a product to market, companies need to raise & deploy capital. Good & stable business plans need clarity & certainty in policy, to ensure capital allocation.
Learning from past lessons for wiser use of public exchequers money, maybe it's time to move beyond the subsidies to drive the demand.
1/ Priority sector lending status for EVs 2/ Green EV Loans with Lower interest rates (bridged by GoI incentives) for EVs. 3/ Agnostic of technologies, specifications, pricing caps, and use cases 4/ If Any - Small (less than 10% of the purchase value) cashback via a 100 % digital self-service portal on #AAdhar & #UPI stack for #DBT to customers. Vehicle make & localisation authentication via Vahan Homologation & registration data.
It's time to simplify and grow.
