Electric two-wheeler mobility platform eBikeGo has acquired tech firm, Kustard Technologies for $2 million, the company has announced. The goal of acquiring the digital product and innovation firm is to modernise the EV industry, eBikeGo said in a statement. The acquisition will also help businesses to get ahead of the competition, the statement added. With this acquisition, eBikeGo plans to build its own Fleet Management System (FMS) empowering massive delivery giants such as Amazon, Flipkart, Big Basket and more with performance-led technologies.
Also Read: eBikeGo Rugged Electric Moto-Scooter Attracts Over 1 Lakh Bookings
The eBikeGo Charge smart charging network will employ AI and IOT among other latest technologies.
"We are extremely happy to acquire one of the burgeoning tech firms, Kustard Technologies, to help push the EV industry to the next level with cutting-edge technology. Every year, approx. 25 million petrol two-wheelers are sold in India. Previously, less than 0.15 million electric two-wheelers have been sold, accounting for just 0.6 percent of overall two-wheeler sales. One of the major reasons for this is that most electric two-wheeler vehicles today are not connected to IoT(Internet of Things) making the user devoid of a complete, dependable digital experience. eBikeGo's vision with this purchase is to transform electric vehicles into smart connected vehicles. As industry experts, we understand the urgency and significance of technology in EV space." said Dr. Irfan Khan, Founder & CEO of eBikeGo.
Also Read: eBikeGo Launches IOT-Enabled Smart Charging Network
eBikeGo plans to have about 3000 IoT Charging Stations across 5 major cities by February 2021
The acquisition of Kustard Technologies will also aid remote diagnostics of EVs to achieve preventative maintenance such as monitoring vehicle health, motor, battery, controller, etc. Along with the acquisition, eBikeGo has also expanded its team by onboarding 20 leading and skilled developers from the EV tech industry. These new employees will contribute on product, design, innovation as well as UI and UX.
Also Read: eBikeGo Rugged Electric Moto-Scooter Launched At Rs. 79,999
eBikeGo is already in the process of developing an IoT system which will strengthen EBG Matics mobility devices. EBG Matics is an advanced telematics system for EVs, which will empower OEMs, fleet operators, lenders, insurance companies and individuals to ensure real-time EV performance. This device follows the 0.5 - 5 - 50 formula, in which 0.5 indicates that the vehicle should be repaired within the first half an hour in the event of any downtime or fault, 5 indicates that vehicles and their assets should last at least 5 years, and 50 indicates that the maintenance should account for only half the cost.
