Ola will get Etergo's IP, design, engineering capabilities
Now, with this deal, Ola Electric will get access to Etergo's intellectual property, design and engineering capabilities.
"This acquisition will further bolster Ola Electric's strong engineering and design capabilities with the Etergo team's extensive vehicle development experience with leading automotive companies like Tesla, General Motors, Ferrari, Jaguar, and BMW," Ola Electric said, adding that "Etergo's team will continue to be based out of Amsterdam."
Ola Electric said it is planning to manufacture and launch e-scooters in India next year, but some reports mentioned that the company is internally trying to achieve that this year itself.
The company is already said to be running pilots to deploy electric two/three-wheelers across Bengaluru, Nagpur, and Gurugram and is also working with Indian power distribution firms to set up a charging ecosystem.
Here's what Ola's founder Bhavish Aggarwal said on the deal
"The future of mobility is electric, and the post-COVID-19 world presents an opportunity for us to accelerate the adoption of electric mobility globally. With electric, digitally connected capabilities, two-wheelers will further emerge as the most preferred urban mobility paradigm around the world."