Ola Electric acquires Etergo, to launch electric two-wheeler in 2021 - IAB Report

Ola Electric has acquired Netherlands-based electric scooter OEM Etergo. The company has also announced that it will launch a global electric two-wheeler in India in 2021.

Founded in 2014, Etergo is known for its state-of-the-art electric scooter that’s called 'AppScooter'. The AppScooter was first unveiled in 2018. It uses swappable high energy density batteries to deliver a range of up to 240 km and class-leading acceleration. The AppScooter has won multiple awards across the world for its innovative design and engineering.

With the acquisition of Etergo, Ola Electric plans to combine the European design and strong engineering skills and the Indian manufacturing and supply chain excellence and create an electric two-wheeler that will provide an efficient and cleanest solution for urban mobility for both domestic and overseas markets. In its mission to build sustainable mobility solutions for India and the world, Ola Electric aims to launch its India-made global electric two-wheeler in our country in 2021.

Commenting on the acquisition, 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.

Ola Electric is also looking into developing the necessary infrastructure for its electric two-wheeler in India. 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.

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Ola Electric is already working with India’s leading power distribution companies towards developing a favourable EV ecosystem through the establishment of Battery Swapping and Charging Stations in New Delhi.