Ola Electric acquires Dutch electric scooter company Etergo

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Etergo's AppScooter (Image: Etergo BV)

Ola Electric Mobility has announced the acquisition of Etergo BV, an electric scooter OEM based out of Amsterdam, Netherlands. Through this acquisition, Ola Electric has announced its entry into the premium electric two-wheeler market. Founded in 2014, Etergo is responsible for developing an all-electric AppScooter, which has won multiple awards across the world. First revealed in 2018, the AppScooter uses swappable ‘high energy density’ batteries, which deliver a claimed range of up to 240km. With this move, Ola Electric aims to transform the 100-million+ global two-wheeler market, including the 20-million+ Indian two-wheeler market, into clean energy, digital future.

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.”

In a bid to build sustainable mobility solutions, 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 has been working towards building the electric vehicle ecosystem to enable ‘clean kilometres’ at scale. Furthermore, Ola Electric is currently running several pilots to deploy electric vehicles and charging solutions across cities with a focus on two and three-wheelers. The company has also enlisted the help of renowned automobile industry veterans like BVR Subbu and Jaime Ardila to its board who bring in their deep expertise and global mobility experience.