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Ola electric acquires Etergo

Date: 29 May 2020 Tags: Services
  • Ola Electric Mobility (OEM) said it has acquired Amsterdam-based Etergo BV, a move that will help the Indian firm foray into the global premium electric two-wheeler market.
  • Ola Electric, without disclosing the deal value, said it aims to launch its electric two-wheeler in India in 2021, and the acquisition of Etergo will further bolster OEM’s engineering and design capabilities.
  • Founded in 2014, Etergo has developed an all-electric ‘AppScooter’ that uses swappable high energy density batteries to deliver a range of up to 240 km.