Ola All Set To Launch Electric Two-Wheelers With Range Of 240 Kms In One Charge; Acquires Dutch EV Firm
In a new development, Ola Electric Mobility has taken over an electric scooter manufacturing company based in Amsterdam by the name Etergo. The company has also announced that it will soon be debuting in the electric two-wheeler market.
Find out all the details about Ola’s newest plans of taking over Etergo right here!
Ola Electric Takes Over Etergo; Will Soon Launch Electric Two Wheelers In India
Ola Electric has now taken over electric scooter manufacturing organization, Etergo, and is planning to manufacture and launch its own electric two wheelers. Etergo is a Dutch company, which has built a scooter that employs swappable, high energy battery. The built, design, and efficiency of this scooter has won everyone’s hearts. In fact, it is so well liked that it has been called the “Tesla of the scooter world.”
A statement regarding the takeover has been released by Ola Electric, which states, “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.”
As reported by a source close to the individual, Etergo was valued to be at around $90 million in the previous financing round. Also, prior to its acquisition, Etergo also managed to raise €20.3 million.
Etergo’s Team To Continue Working From Amsterdam After They Join Ola Electric
It also reveals that Etergo’s team will continue its operations from Amsterdam as they will join Ola Electric. Ola plans to leverage Etergo’s design and engineering capabilities in order to build smart electric two wheelers for the Indian and International markets.
The Government of India has been pushing for electric vehicles for a long time now, and the future may soon be taken over by electric vehicles completely.
As per Bhavish Aggarwal, Founder & Chairman, Ola Electric, said, “The future of mobility is electric, and the post-COVID-19 the world presents an opportunity for us to accelerate the adoption of electric mobility globally.”
He also said that twice the number of two wheelers were sold throughout the world as compared to cars every year.