Less than a year after Etergo announced it would be manufacturing its electric scooters in Emmen, the Amsterdam-based company has found a new home. The EV manufacturer will now reside within India’s ride-hailing company Ola. With backing from Softbank, Ola purchased Etergo, for an undisclosed amount, as it looks to expand its portfolio to include locally produced electric vehicles.
According to Ola, the company will start EV production this year with the launch of its first electric scooter penned for 2021. “The company aims to build a suite of electric and smart urban mobility solutions in India and around the world,” says Bhavish Aggarwal, founder and chairman. “The future of mobility is electric, and the post-COVID world presents an opportunity for us to accelerate the adoption of electric mobility globally.”