Ola Electric acquires Etergo BV, a Netherlands-based electric scooter OEM

Sangeetha Chengappa New Delhi | Updated on May 27, 2020

Ola Electric has been working towards building the electric vehicle ecosystem to enable ‘clean kilometres’ at scale   -  REUTERS

To launch electric two-wheeler next year

Ola Electric Mobility Pvt Ltd announced the acquisition of Etergo BV, an electric scooter OEM based out of Amsterdam. With this acquisition, Ola Electric plans to leverage Etergo’s design and engineering capabilities to build its smart electric two-wheeler for international and national markets, with the India launch planned for 2021. Ola did not disclose financial details of the acquisition.

“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,” Bhavish Aggarwal, Founder & Chairman, Ola Electric, said in a statement.

The acquisition will further bolster Ola Electric’s engineering and design capabilities with the Etergo team’s extensive vehicle development experience with leading automotive companies such as Tesla, General Motors, Ferrari, Jaguar, and BMW. Etergo’s team will continue to be based out of Amsterdam as they join Ola Electric.

Founded in 2014, Etergo has developed an all-electric 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 240 km and class-leading acceleration.

Bart Jacobsz Rosier, Co-founder and 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, re-imagining electric mobility to transform the way the world moves.”

Published on May 27, 2020

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