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    Ola Electric acquires Amsterdam-based Etergo, to launch electric two-wheeler in 2021

    Ola Electric acquires Amsterdam-based Etergo, to launch electric two-wheeler in 2021

    Ola Electric acquires Amsterdam-based Etergo, to launch electric two-wheeler in 2021
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    By Mugdha Variyar   IST (Updated)

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    Ola Electric Mobility Pvt Ltd (Ola Electric) has acquired Amsterdam-based Etergo BV, an electric scooter OEM, the company announced on Wednesday. 

    Ola Electric Mobility Pvt Ltd (Ola Electric) has acquired Amsterdam-based Etergo BV, an electric scooter OEM, the company announced on Wednesday.
    With this acquisition, Ola Electric has also announced its entry into the premium electric two-wheeler market, both globally and nationally.
    The company said it aims to launch its electric two-wheeler in India and globally in 2021. Ola Electric said the acquisition will bolster its engineering and design capabilities, thanks to the Etergo team’s 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 it joins Ola Electric.
    Founded in 2014, Etergo has developed an all-electric  AppScooter, which uses swappable high-energy-density batteries to deliver a range up to 240km and leading acceleration.
    Ola Electric Mobility was carved as a separate business under Ola's parent company and has raised over $300 million from investors such as SoftBank, Tiger Global and Matrix Partners.
    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. 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.”
    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!”
    Ola Electric is working with power distribution companies in India towards developing a conducive EV ecosystem through the establishment of Battery Swapping and Charging Stations in the national capital of New Delhi.
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