 "Ola cabs, Ola electric vehicles")
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 Wednesday.
Ola Electric did not disclose the amount it was paying to acquire Etergo, which was last valued at around 84 million euros ($92 million), according to a source familiar with the deal.
Etergo's scooters use swappable, high energy density batteries that give it a range of up to 240 km.
Ola Electric said it will begin EV production work this year and plans to launch its first electric scooter in 2021.
"The
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