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Ola buys out Netherland based Etergo BV for an undisclosed amount, plans to launch an electric scooter in India by 2021.

Sniffing out an opportunity in this current economic climate is a tough ask but Ola just did with aplomb. Ola acquired Netherland-based electric scooter Etergo BV, an Original Equipment Manufacturer based out of Amsterdam. With the acquisition of OEM Etergo, Ola plans to launch an electric scooter in the Indian market by 2021. Ola plans to leverage the technological and design expertise of Etergo to build a smart electric scooter, not just for the Indian market but for the International consumers too. Ola hasn’t disclosed the financial details of the take-over of Etergo. Earlier known as Bolt Mobility, Etergo was established in 2014 and is well-known for its scooter model named “AppScooter”. 

AppScooter uses swappable high energy density batteries for long-range commutation up to 240 Kms and has a segment-leading acceleration. AppScooter can accelerate from 0  to 45 kmph in 3.9 seconds and comes equipped with a 7-inch interactive touchscreen display. The electric scooter can carry three battery modules, with 1155 Wh each. AppScooter can clock an average speed of 20 kmph, the batteries can last up to 80 Kms and give a maximum combined range of 240 Kms. Storage space is 60 litres. 

"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 clean energy, digital future", Ola said in a statement to various media outlets.

The biggest problem with Electric mobility solutions is the lack of a conducive infrastructure and Ola seeks to address that. Ola is currently running numerous programs to build charging stations and swapping networks around the country. As of now, there are only a handful of electric vehicle brands doing good business in the Indian market which hasn’t still embraced EV fully. Aether is one which is doing good business and Ola will be expected to rival it in the coming years. 

Etergo comes with an illustrious list of clients like Tesla, General Motors, Ferrari, Jaguar, and BMW. Etergo’s AppScooooter has won numerous awards for innovative design and engineering at CES 2019 and Automotive Brand Contest, Germany. 

Read Also: Jeep India Launches Financial Services for Compass and Wrangler

 

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