Ola Electric, subsidiary of India’s top ride-hailing service Ola announced on Wednesday that the company has acquired Etergo, Amsterdam-based electric scooter OEM that is known for building state-of-the-art AppScooter electric scooter winning awards at multiple tech events.
The company has not announced the acquisition details but the Etergo team has now come under the Ola Electric division, earlier the company has also brought automobile industry veterans like BVR Subbu and Jaime Ardila to its board to expand its presence in the market.
The company plans to use the engineering capabilities of Etergo’s AppScooter to build its own two-wheeler electric scooter for the international and domestic market.
Etergo’s AppScooter delivers up to 240 kilometers of range using swappable 1.5kWh batteries per module that allows the scooter to go from 0 to 45 kph in just 3.9 seconds. As a smart electric scooter it has a large colored touchscreen display for accessing apps and navigation.
Ola Electric is currently working with India’s leading power distribution companies to develop a feasible electric vehicle ecosystem of Battery Swapping and Charging Stations in New Delhi.
Ola, the parent company of Ola Electric has recently had to let go of 1,400 employees of its workforce in India with a huge drop in revenues due to the nationwide lockdown.