Ola did not disclose the amount for which it will acquire Etergo, which was last valued at around 84 million euros , according to a source familiar with the deal.Ola said it will begin EV production work this year and plans to launch its first electric scooter in 2021.
“The company aims to build a suite of electric and smart urban mobility solutions ... in India and around the world,” it said. Ola already offers rides on electric scooters and three-wheeled vehicles made by other manufacturers on its platform, and has set up battery-swapping stations, across several cities in India.
Source: News Formal (newsformal.com)
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