Ola Electric Mobility acquired Amsterdam-based electric scooter maker Etergo BV in May this year and announced plans to foray into the electric scooter market nationally and globally.
Ola, the touring major, is making a foray into electric scooter manufacturing and plans to enter the market with its first vehicle in January next year, sources say. The electric scooter, initially made at a factory in the Netherlands, will be sold in India as well as Europe, sources familiar with the development said. Ola did not respond to queries sent by email.
In May of this year, Ola Electric announced the acquisition of Amsterdam-based Etergo BV for an undisclosed amount. At that time, the company announced its intention to launch an electric two-wheeler in India in 2021 and that the acquisition of Etergo further bolstered its engineering and design capabilities.
The sources said that Ola Electric, the EV arm of the rideshare company, plans to simultaneously launch an electric scooter in India and several European markets by January of next year.
The price of the electric scooter is expected to be competitive with current gasoline scooters as the company plans to tap the majority of the 20 million units of the two-wheeler market in India, they added.
Also read: Ola Electric acquires Amsterdam-based Etergo
One of the sources said Ola plans to sell a million electric scooters in the first year.
The person added that while the initial batches of vehicles will come from the manufacturing plant in the Netherlands, Ola Electric plans to set up a facility in India to meet local demand more effectively and participate in the vision of the Atmanirbhar Bharat government.
Ola is said to be in talks with various state governments to set up India’s largest electric scooter manufacturing plant with an annual capacity of around 2 million units.
Founded in 2014, Etergo has developed a fully electric “ AppScooter ” that uses high energy density replaceable batteries to provide a range of up to 240 km.
The decision to offer electric scooters will pit the SoftBank-backed company against players such as Bajaj Auto, Ather Energy, Hero Electric, backed by Hero MotoCorp, and others who currently manufacture electric two-wheelers in the country.
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