Bengaluru, 28 May 2020: Ola Electric announced the acquisition of Etergo BV, an innovative electric scooter based out of Amsterdam, the Netherlands.
With this acquisition, Ola Electric has also announced its entry into the premium electric two-wheeler market, both globally and nationally.
Founded in 2014, Etergo has developed an all-electric state-of-the-art 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. First revealed in 2018, the AppScooter uses swappable high energy density batteries to deliver a range up to 240km and class-leading acceleration.
Electric two-wheelers are the most efficient and cleanest solution for urban mobility, which will become even more relevant in the post COVID world. With 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 a clean energy, digital future.
Ola Electric has been working towards building the electric vehicle ecosystem to enable ‘clean kilometers’ at scale. With plans to set up extensive charging and swapping networks around the country, Ola Electric is currently running several pilots to deploy electric vehicles and charging solutions across cities with a focus on 2 and 3 wheelers. The company aims to build a suite of electric and smart urban mobility solutions for global citizens, both in India and around the world.
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.”
In its mission to build sustainable mobility solutions for India and the world, Ola Electric aims to launch its global electric two-wheeler in India in 2021. This acquisition will further bolster Ola Electric’s strong engineering and design capabilities with the Etergo team’s extensive 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.
Bart Jacobsz Rosier, Co-founder & CEO, Etergo BV said, “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. We are looking forward to joining Ola Electric and together, reimagining electric mobility to transform the way the world moves!”
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.