Ola Likely To Enter Electric Two-Wheeler Market In India

New Delhi: Cab aggregator Ola is likely to enter the premium electric two-wheeler market after acquiring Amsterdam-based electric scooter startup Etergo BV.

Etergo, which was established in 2014, has an all-electric AppScooter which has a long range of up to 240km with its swappable high-energy density batteries. The scooter claims a 0 to 45km/h in 3.9 seconds. In Europe, its prices start at €3,399 or approximately ₹2.8 lakh.

Ola said the acquisition will help the company transform the 100-million+ global two-wheeler market, including the 20-million+ Indian two-wheeler market.

Ola will be setting up charging and battery swapping infrastructure across the country, which, assumably, can be used by three-wheelers too. It has already set up a similar system in Delhi.

The electric two-wheeler could be launched in India next year.

“The future of mobility is electric, and the post COVID world presents an opportunity for us to accelerate the adoption of electric mobility globally. We look forward to building the best global capabilities in engineering, design, and manufacturing for these products to be made here in India,” Ola said in a statement.