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Ola Electric acquires Etergo

Ola Electric Mobility, instituted in 2017 as a subsidiary of Ola Cabs, has announced its acquisition of Amsterdam based electric scooter EVM – Etergo. Ola electric aims to be a full-fledged EV manufacturer, differing from Ola Cab services. It aims to pioneer and revolutionize premium EV two wheeler segment in India. Ola Electric will be leveraging Etergo’s design and engineering capabilities to build its first smart electric two wheeler, which is expected to be launched in 2021 aiming both global and local markets. Etergo has extensive experience in working with giants like Tesla, GM, Ferrari, Jaguar and BMW.

Since the works are still in the initial stages, we couldn’t get a number at which the EV is expected to be launched. But pinging on the segment of Premium EVs, one can expect it to be priced higher than the most premium e-scooter currently available in the Indian market – the Ather 450x, but still it is a little too early to tell.

Ola Electric is also in talks with energy companies, battery manufacturers and vehicle manufacturers on “swappable batteries” technology, and also to build and promote a green mobility ecosystem. 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.” He further added, “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.”

Commenting on the development, 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!”

(The article is written by Karthick. He is an auto enthusiast, and an engineer by profession, currently employed in an auto MNC at Chennai; has a craving on new tech and a particular interest on the Indian automotive market.)


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