Ola Acquires Etergo and Plans to Launch Electric Two-Wheeler Next Year!

Sathurshan

May 29, 2020

Ola Electric announces the acquisition of Etergo BV and its entry into premium electric two-wheeler market.

Ola Electric on Wednesday announced their acquisition of the Amsterdam-based electric scooter-maker Etergo. On top of this, they announced their entry into the premium electric two-wheeler market both nationally and globally. With this acquisition, Ola Electric aims to transform the 100-million+ global two-wheeler market; including the 20-million+ Indian two-wheeler market, into a clean energy, digital future.

Ola Electric has been working towards building electric vehicle ecosystems to provide a suite of electric and smart urban mobility solutions for global citizens; both in India and around the world. However, with their latest acquisition, things take a huge leap and we are eager to see what Ola comes up with in the near future.

On the other hand, founded in 2014, Etergo’s all-electric state-of-the-art AppScooter tops in its territory.  Etergo revealed their first AppScooter in 2018 with swappable high energy density batteries. The AppScooter delivers a range of up to 240 km and a class-leading acceleration. On top of this, the Dutch firm has won multiple awards for its innovative design and engineering such as; CES 2019, Automotive Brand Contest Germany and many more.

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.”

He added, “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.”

Source: Electric Motorcycles News