Although the corporate didn’t reveal the monetary particulars of the deal, Etergo was valued at round $90 million final 12 months. Despite the acquisition, Etergo’s group will proceed to be primarily based out of Amsterdam.
Etergo’s AppScooter makes use of swappable excessive vitality density batteries. The scooter boasts a variety of as much as 240km and may go from 0-45 km/h in simply 3.9 seconds. In addition, Etergo has car growth expertise with main automotive firms reminiscent of Tesla, General Motors, Ferrari, Jaguar, and BMW.
In a press launch saying the deal, Ola revealed plans to launch its electrical two-wheeler scooter in India subsequent 12 months. The firm is at the moment operating a number of pilot checks to deploy electrical 2 and 3 wheelers throughout a number of cities in India.
Moreover, the agency is working with energy distribution firms to develop a conducive EV ecosystem. Ola envisions this future via the institution of battery swapping and charging stations, beginning with the nation’s capital metropolis New Delhi.
Speaking of the deal, Bhavish Aggarwal, Founder & Chairman, Ola Electric mentioned, “The future of mobility is electric, and the post COVID world presents an opportunity for us to accelerate the adoption of electric mobility globally. With electric, digitally connected capabilities, two-wheelers will further emerge as the most preferred urban mobility paradigm around the world and empower every consumer.”