Ola’s Electric arm, Ola Electric Mobility Pvt Ltd has announced the acquisition of Dutch electric scooter company Etergo BV. With this acquisition, Ola Electric has also announced its entry into the premium electric two-wheeler market, both globally and nationally.
For the uninitiated, Etergo, founded in 2014, has developed an electric scooter — AppScooter which has won multiple awards across the world for its innovative design and engineering at CES 2019 and Automotive Brand Contest, Germany amongst others.
Introduced in 2018, the AppScooter uses swappable high energy density batteries to deliver a range of up to 240km (80km x 3 swappable module). With the combination of European design, strong engineering collaboration, and Indian manufacturing and supply chain, Ola Electric aims to transform the 100-million+ global two-wheeler market, including the 20-million+ Indian two-wheeler market, into clean energy, digital future.
The company is planning to launch its global electric two-wheeler in India in 2021. Right now, the Ola Electric is currently running several pilots to deploy electric vehicles and charging solutions across cities with a focus on 2 and 3 wheelers. Post this acquisition, Etergo’s team will continue to be based out of Amsterdam as they join Ola Electric.
Bhavish Aggarwal, Founder & Chairman, Ola Electric said,
The future of mobility is electric, and the post COVID world presents an opportunity for us to accelerate the adoption of electric mobility globally. Every year, almost twice the number of two-wheelers are sold across the world compared to cars. With electric, digitally connected capabilities, two-wheelers will further emerge as the most preferred urban mobility paradigm around the world and empower every consumer. We look forward to building the best global capabilities in engineering, design, and manufacturing for these products to be made here in India.
I am very excited to welcome Bart, Marijn, and the entire Etergo team to Ola Electric and look forward to working closely with them to build towards our vision of making electric mobility, a reality at scale.
Ola Electric is already working with India’s leading power distribution companies towards developing a conducive EV ecosystem through the establishment of Battery Swapping and Charging Stations in the national capital of New Delhi. Ola Electric has also inducted renowned automobile industry veterans like BVR Subbu and Jaime Ardila to its board who bring in their deep industry expertise and global mobility experience.