Ola Electric Buys E-bike Maker Etergo

Ola Electric has acquired Amsterdam’s electric scooter manufacturer Etergo as it looks to launch its own two-wheelers globally next year. These scooters will be made in India. While Ola did not disclose the deal value, Etergo has raised about $21.3 million to date. “The future of mobility is electric, and the post-Covid-19 world presents an opportunity for us to accelerate the adoption of electric mobility globally,” Bhavish Aggarwal, founder of Ola Electric, said. “With electric, digitally connected capabilities, two-wheelers will further emerge as the most preferred urban mobility paradigm.” Ola Electric will now own intellectual property, design and engineering capabilities of Etergo.

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