SoftBank-backed Ola buys Dutch electric scooter company Etergo

📆 27/05/2020 10:30:00
📰 Reuters

⏱ Reading Time:
17 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

SoftBank Group-backed Indian ride-hailing company Ola will acquire Amsterdam-based electric scooter company Etergo as part of its plan to locally build electric vehicles (EVs), the company said on Wednesday.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WSJ News Exclusive | Amazon in Advanced Talks to Buy Self-Driving-Car Tech Company ZooxAmazon is in advanced talks to buy Zoox, a move that would expand its reach in autonomous-vehicle technology, people familiar with the matter said When Amazon turns all of their jobs in to robots will the federal government make them pay taxes? Next they'll buy skynet and it's over Johnny Wasnt Rivian heavily funded by amazon?
Source: WSJ - 🏆 98. / 63 Read more »