Ola is reportedly preparing to enter the electric scooter market in January next year. According to a recent PTI report citing sources familiar with the matter, the private transport company will build the vehicles at a facility in the Netherlands and sell them in India and Europe.
The development comes after Ola Electric, the company’s electric vehicle department, acquired Amsterdam-based electric scooter company Energy earlier this year. The financial aspects of the Ola-Etergo deal were not disclosed, but Etergo was valued at around $ 90 million last year.
For the uninitiated, Etergo is the maker of AppScooter, which is a fully electric scooter. The EV offers a range of up to 240 km and uses high energy density interchangeable batteries. The vehicle goes from 0 to 45 km / h in just 3.9 seconds.
According to the report, Ola’s electric scooter offering will be priced similarly to gasoline scooters on the market. This is an interesting move as electric scooters in the country cost more compared to other non-electric vehicle competitors in the segment. With this step, Ola reportedly plans to tap into the majority of the 20 million two-wheeler market in India.
Although it is early enough to speculate the sales figures, sources say that Ola is estimating the sales of at least 1 million electric scooters in the first year. We will have to wait to see if Ola succeeds in this goal.
Initial batches of the vehicle will come from the Netherlands, but the company is exploring ways to establish a manufacturing plant in India. The facility in question may become an annual volume of 2 million units, presenting it as the largest electric scooter making company in India.