Ola Electric Mobility, an EV business backed by India’s popular ride-sharing app, has acquired Etergo BV OEM and will start making premium two-wheelers for India as well as international markets. Ola has acquired Etergo for an undisclosed amount.
Etergo BV is an OEM based out of Amsterdam, Netherlands. The company was founded in 2014 and it has developed an all-electric state-of-the-art AppScooter, which also won several awards including an award at CES 2019.
The AppScooter was unveiled in 2018 with a range of up to 240km with high energy density batteries. AppScoooter can go from nothing to 45km/hr in just 3.9 seconds. It also comes with a digital interactive touchscreen display. Other key features include 50-litre storage and GPS for navigation.
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With this acquisition, Ola Electric aims to transform the 100 million+ global two-wheeler market, including the 20 million+ Indian two-wheeler market, into one with clean energy digital future.
Starting today, we join @OlaElectric, one of the world’s most admired mobility companies, in their mission to build electric mobility at scale. #Etergo’s continuity is secured with this collaboration and together, we look forward to reimagining the future of urban mobility! pic.twitter.com/L9WFlHiIZQMay 27, 2020
The Etergo team has development experience with automotive companies like Tesla, General Motors, Ferrari, Jaguar, and BMW. The team will continue to work out of Amsterdam as they join Ola Electric.
Ola Electric has been working on building the electric vehicle ecosystem at scale. Currently, the company is running several pilots to deploy electric vehicles and charging solutions across cities. The focus is not only on the two-wheelers, but the company is also testing three-wheelers.
As of now in India, there are only a handful of electric vehicles that are doing good like Ather. Ola Electric is planning to bring its first two-wheeler in 2021. The current acquisition will boost the company’s design and engineering team.
Lastly, Ola Electric is working on India’s leading power distribution companies towards developing a conducive EV ecosystem through the establishment of battery swapping and charging stations in New Delhi. Recently the company onboarded renowned automobile industry veterans like BVR Subbu and Jaime Ardila, which should further boost the company.
