OLA shifts gear for bigger electric mobility market.
OLA shifts gear for bigger market share of Electric vehicle
Businesses cannot be stagnant and new moves and takeovers ensure that business can tap new and emerging markets, with this point of view Ola an Indian ride-sharing company and one of the world’s largest ride-hailing companies, serving 250+ cities across India, Australia, New Zealand, and UK has recently acquired Amsterdam start-up Etergo, with the motive to launch electric two-wheeler in the market.
The eventual fate of mobility is electric, and the post-COVID world presents an open door for us to quicken the reception of electric mobility universally stated by Bhavesh Aggarwal.
Etergo was established in 2014. It has created App Scooter, an electric bike that has won a few honors over the world for plan and designing. First uncovered in 2018, the bike utilizes swappable high vitality thickness batteries to convey a range up to 240 km and class-driving quickening.
Following the acquisition Bart Jacobsz Rosier, Co-founder, and CEO, Etergo BV mentioned that the Bengaluru based Ola is one of the most prestigious names in the industry of mobility and it has marked its name with a lot of innovations and also made many bold moves taken towards electric mobility. The company is looking towards new heights while working with Ola and are positive to set new standards.
On the other hand, Bhavesh is very positive about his deal with Etergo now they can tap the markets at a must faster rate as almost twice the number of two-wheelers are sold across the world compared to cars.
The company after its current acquisition plans to indulge European and Indian techniques to reform and transform the Ola Electric market consisting of a 100-million+ global two-wheeler market, and a 20-million Indian two-wheeler market into clean energy and digital future.
The company will be running its vehicle on road by 2021. This acquisition will prove to be profitable for Ola Electric as it will bring together the engineering, manufacturing and design capabilities of both the companies and which can be ultimately brought into use for leading automobile companies like Tesla, General Motors, Ferrari, Jaguar, and BMW.
Etergo will continue its business from Amsterdam in the meanwhile Ola Electric has been working with several power distribution companies towards developing an EV ecosystem with charging and battery swapping stations across Delhi-NCR
