Ola acquires Etergo!

Ola acquires Etergo!

Ola electric is a leading manufacturer of electric vehicles in india. Its headquarters is in Banglore, Karnataka India. It was founded in 2017 as a B2C model. Ola electric has the vision of uniting young, brilliant minds and shaping the global EV future. Its global talent pool fuels innovation, creating industry leading products, shaping today and tomorrow. Current CEO is Bhavish Aggarwal.

Ola Electric Mobility Pvt Ltd , the electric vehicle arm of Ola has acquired Etergo BV, in 2020. Etergo is a Dutch electric scooter company headquartered in Amsterdam. It is the innovative electric mobility company, with a goal of making petrol transportation a thing of the past.

Etergo had been valued at as much as $90 million after its last funding round, but was sold at a loss to Ola , according to Etergo's then CEO Bart Jacobsz Rosier. Ola did not disclose the financial details of the acquisition. With this acquisition, Ola Electric planned to leverage Etergo's design and engineering capabilities.