Estonian e-bike brand Ampler has merged with the Kõu Mobility Group, as Kõu takes a majority stake in the bike-manufacturer.
The two companies have signed an investment and share-swap agreement, with Kõu becoming the new 51% majority shareholder in Ampler, which will join other micromobility brands in the Kõu group, Comodule, Äike, and Tuul.
Ampler will continued to operate independently, with Ardo Kaurit to remain as CEO as well as joining management of the Kõu Mobility Group.
Kaurit, CEO and co-founder of Ampler said: “Ampler is very excited about joining forces with Kõu Mobility Group and forming this Estonian powerhouse in the fast-growing micromobility industry. Ampler and Kõu Mobility Group have been pursuing a similar mission and have already cooperated in the past, so it made a lot of sense to take the next step. As they say, ‘If you want to go far, go together.’”
Kõu Mobility Group, also based in Estonia now consists of four micromobility brands: Comodule, which provides software and IoT solutions for light electric vehicles; Tuul, a rental service for electric scooters; Äike, a manufacturer of electric scooters; and Ampler, a developer of lightweight electric bicycles.
The group’s vision is to encourage people to choose clean transportation and create a noise- and emission-free urban environment. The brands of Kõu Mobility Group make light electric vehicles safer, more comfortable and more accessible.
Kristjan Maruste, CEO of Kõu Mobility Group, said: “On behalf of the entire Kõu Mobility Group, I can wholeheartedly say we are thrilled to welcome Ampler Bikes to the Kõu family. The people at Ampler have long been our friends and share the same goals and values as Kõu: to empower emissionless transport. By adding Ampler – another vertically integrated micromobility company from Estonia – to our ranks, we will be able to multiply the impact we have on clean mobility on a global scale.”
Kõu employs more than 300 people, and all product development and manufacturing are done in-house in Estonia.