Hopcharge plans to raise funds under USD 10 million to support fleet growth, says CEO Arjun Singh.
Gurugram-based mobile EV charging start-up Hopcharge is firming up its plans to triple its two dozen-plus charging vans in Delhi and the NCR region by the end of FY 2024-’25. The company says it plans to reach out to global climate funding organisations to raise funds under USD 10 million (over Rs 83 crore) to support fleet growth, and to expand its network to Bengaluru.
Hopcharge is also finalising terms to bring onboard two new electric passenger car manufacturers into its customer fold, co-founder and CEO Arjun Singh informed our sister publication Autocar Professional.
Hopcharge’s mobile EV charging is nearly twice as expensive as a public charging station, but Singh claims that the “Delhi-NCR region is experiencing a surge in demand from EV owners due to the convenience and ease of charging electric passenger cars at home.” Service excellence should be the goal of any service provider, he says, adding, “In the end, that is what you provide. We are not just selling kilowatt-hour charges.”
The company, which enlists Tata Motors, Mercedes-Benz and insurance firm Acko as its prime clients, has the backing of its founders with over 15 years of experience in the energy industry. Singh spent a significant period with Schlumberger, one of the world’s largest global technology firms driving energy innovation. He has also served as an advisor to the Delhi government in the development of its Solar Policy.
The company currently offers 25-30kW chargers for all vehicle types, but says that it does not rule out the possibility of doing more. “We can pack more energy into different formats (30, 50, and 60kW), similar to a power bank, and these sizes can be introduced based on market demand. We can scale up to 90kW as demand grows.”
Hopcharge has also introduced a subscription model that allows the consumer to access unlimited charging cycles for their vehicle for about Rs 50,000 a year. Singh says, “We also provide emergency backup if a consumer falls below 20 percent or is stranded, and we usually do not charge the customer for an SOS because it assures them that we are there to help them.”
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