Employees work inside the office of Ola cab service in Gurugram, on the outskirts of New Delhi, India. Ola Electric said it will begin EV production work this year and plans to launch its first electric scooter in 2021. — Reuters
NEW DELHI: A unit of SoftBank Group-backed Indian ride-hailing company Ola will buy Amsterdam-based electric scooter company Etergo as part of its plan to locally build electric vehicles (EVs), the company said on May 27.
Ola Electric did not disclose the amount it was paying to acquire Etergo, which was last valued at around €84mil (RM401.33mil), according to a source familiar with the deal.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
