Ola Electric Mobility today announced that it has acquired Amsterdam-based Etergo BV electric scooter maker and that it will foray into electric scooter market nationally and globally. Founded in 2014, Etergo BV is an electric scooter OEM that developed the AppScooter first unveiled in 2018. The AppScooter uses swappable battery tech and boasts a range of up to 240 km. With an aim to roll out sustainable mobility solutions for Indian and global markets, Ola Electric is preparing to launch an electric two-wheeler in India in 2021.
Ola Electric states that with this acquisition, it will further bolster its engineering and design capabilities with Etergo team’s extensive vehicle development experience. Etergo have worked with companies like Tesla, General Motors, Ferrari, Jaguar, and BMW. The team will continue to be based out of Amsterdam as they join Ola Electric.
Very excited to share that @OlaElectric has acquired Amsterdam based @Etergo_Official. The future of urban mobility is both electric, stylish and on two-wheels! We‘ll launch our first electric 2W later this year for Indian and global consumers. Read More: https://t.co/lk8F3VllPL pic.twitter.com/cHfslfr995
— Bhavish Aggarwal (@bhash) May 27, 2020
The future of mobility is electric, and the post-COVID world presents an opportunity 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, Bhavish Aggarwal, Founder & Chairman, Ola Electric said.
With electric, digitally connected capabilities, two-wheelers will further emerge as the most preferred urban mobility paradigm around the world and empower every consumer. Ola Electric looks forward to building the best global capabilities in engineering, design, and manufacturing for these products to be made in India, he added.
The value of the deal has not been disclosed.
Ola is one of the world’s most admired mobility companies and has led the way for many innovations in the space, including its bold ambition for electric mobility. Etergo is looking forward to joining Ola Electric and together, reimagining electric mobility to transform the way the world moves, Bart Jacobsz Rosier, Co-founder & CEO, Etergo BV said.
Ola Electric is also working with a power distribution company in India to develop an EV ecosystem through the establishment of Battery Swapping and Charging Stations in New Delhi.
Ola Electric Mobility Pvt Ltd develops electric mobility solutions and is backed by several global investors including India’s Ola which has gone on to become one of the world’s largest ride-hailing companies.
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