Technological synergies- Ola announces acquisition of electric scooter manufacturer Etergo

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Ola, Bengaluru-based ridesharing company has announced the acquisition of an Amsterdam based manufacturer of electric scooters – Etergo BV. This launch of its electric sub-brand in Indian as well as global markets is aiming at being a full-fledged electric vehicle manufacturer. The launch is expected to be in 2021 with Delhi being the first market space while other potential markets like Mumbai, Bengaluru, Chennai are on the way.

Bhavish Agarwal, founder, and chairman of Ola electric says, “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.” Ola is aiming to leverage Etergo’s design, innovation and engineering capabilities to build a smart electric two-wheeler suiting both Indian and international markets.

Etergo BV was found in 2014 and has developed a lightweight electric scooter called AppScooter, a Dutch design, and production. It won multiple awards for its innovative structure and engineering of the AppScooter, which was introduced in 2018 and uses swappable high energy density batteries to deliver a range up to 240 km and class-leading acceleration.

Etergo’s AppScooter uses a 7kW motor attached to a portable or swappable battery pack of three 1.155kWh modules. They claim that each module can return a real-life riding range of about 80km, striking 45km/h in four seconds which three times faster than a 50cc Vespa model. The design comes with a solid 50-liter under-seat storage, dual disc brakes, and can be paired by both Android and iOS. It has an in-built navigation system, phone, and real-time diagnostics. The AppScooter can be further enhanced and upgraded through OTA updates.

Ola Electric has been planning to set up extensive charging and swapping networks around the country and is presently arranging and installing electric vehicles and charging points across cities with a focus on two-wheelers. The company also says that they are working with power distribution companies for developing a favorable Electric Vehicle (EV) ecosystem by establishing charging stations in Delhi, so as to obtain a strong market base. This acquisition by Ola would also augment its engineering and design capabilities, as the Etergo team has extensive research and development experience with leading automotive giants like Tesla, General Motors, Ferrari, Jaguar, and BMW.

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