Ola Acquires Electric Vehicle OEM, to Launch a Electric Two-Wheeler Soon

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  • Ola is aiming to engineer, design, and manufacture for EVs in India
  • The company aims to launch its global electric two-wheeler first in India

Ola Electric Mobility Pvt Ltd (Ola Electric) has announced the acquisition of Etergo BV, an electric scooter OEM, 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.

“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.

100-million+ global two-wheeler market

Founded in 2014, Etergo has developed an all-electric state-of-the-art AppScooter. 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,” read Ola’s official statement.

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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 two and three 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.

First global electric two-wheeler in India in 2021

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!”

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