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Ola Electric Mobility (Ola Electric), the ride-hailing firm’s electric vehicle arm, has acquired Etergo BV, an Amsterdam-based electric scooter original equipment manufacturer. Ola did not disclose the amount it was paying to acquire Etergo, which was last valued at about $90 million and which has raised total funding of $20 million, according to the sources.
This acquisition marks Ola's entry into the premium electric two-wheeler market, both globally and nationally. Ola Electric aims to launch its global electric two-wheeler in India in 2021. This acquisition will further bolster Ola Electric’s strong engineering and design capabilities with the Etergo team’s extensive
