Hop Oxo Electric Motorcycle: HOP Electric Mobility on Monday launched its new electric motorcycle - HOP OXO - in India. The company launched the electric vehicle at an introductory price of Rs 1.25 lakh.

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The newly launched high-speed electric-motorcycle is offered in two variants - Oxo and Oxo X.

HOP OXO is powered by a 3.75 KWh battery pack with a range of 150 km per charge. It can be charged at any 16 Amp power socket with 0 to 80 per cent charging in less than 4 hours, the company said.

The introductory prices of the two variants, OXO and OXO-X are Rs 1.25 lakh and Rs 1.4 lakh, respectively.

Apart from that, the company also plans to invest up to Rs 200 crore in the next one year on new products, setting up charging infrastructure and in creating additional production capacity, according to company Founder & CEO Ketan Mehta.

"Cumulatively, till now we've invested close to Rs 50 crore in this business and going forward we are ready to put in up to Rs 200 crore in less than next 12 months," Mehta told PTI.

The fresh investments will go into setting up of charging network for the company's products, which will later be opened up to other brands, he added.

Apart from the newly launched Hop Oxo, the company's other existing models include low-speed electric scooters HOP LYF and HOP LEO with prices starting at Rs 65,500 and Rs 72,500, respectively.

(With the inputs of PTI)