Ola Electric Mobility on Wednesday announced the acquisition of Etergo BV, an Amsterdam-based electric scooter OEM (original equipment manufacturer). With this deal, the Bengaluru-based company will foray into the electric two-wheeler market, both globally and nationally. Ola Electric aims to launch its global electric two-wheeler in India in 2021. This acquisition will strengthen the firm’s engineering and design capabilities with the Etergo team’s vehicle development experience with leading automotive companies like Tesla, General Motors, Ferrari, Jaguar and BMW. Etergo’s team will continue to be based out of Amsterdam as they join Ola Electric, the company said in a statement.
Ola Electric is currently running several pilots to deploy electric vehicles and charging solutions across cities with a focus on two- and three-wheelers.“The future of mobility is electric, and the post-Covid world presents an opportunity for us to accelerate the adoption of electric mobility globally. We look forward to building the best global capabilities in engineering, design, and manufacturing for these products to be made here in India,” said Ola Electric founder & chairman Bhavish Aggarwal.The company 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 New Delhi.
“We are looking forward to joining Ola Electric and together, reimagining electric mobility to transform the way the world moves,” said Bart Jacobsz Rosier, co-founder & CEO, Etergo BV.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.