<p>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.</p>.<p>Ola did not disclose the amount for which it will acquire Etergo, which was last valued at around 84 million euros ($92.05 million), according to a source familiar with the deal.</p>.<p>Etergo's scooters use swappable, high energy density batteries that give it a range of up to 240 km.</p>.<p>Ola said it will begin EV production work this year and plans to launch its first electric scooter in 2021.</p>.<p>"The company aims to build a suite of electric and smart urban mobility solutions ... in India and around the world," it said.</p>.<p>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. ($1 = 0.9126 euros)</p>
<p>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.</p>.<p>Ola did not disclose the amount for which it will acquire Etergo, which was last valued at around 84 million euros ($92.05 million), according to a source familiar with the deal.</p>.<p>Etergo's scooters use swappable, high energy density batteries that give it a range of up to 240 km.</p>.<p>Ola said it will begin EV production work this year and plans to launch its first electric scooter in 2021.</p>.<p>"The company aims to build a suite of electric and smart urban mobility solutions ... in India and around the world," it said.</p>.<p>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. ($1 = 0.9126 euros)</p>