Ola Electric accelerates distribution network to 4,000 stores in December

OLA Electric Mobility Ltd. | Automobile Two & Three Wheelers | Automobiles | BSE: 544225 | NSE: OLAELEC

02 Dec 2024 Evaluate

Ola Electric Mobility has planned for a four-fold expansion of its company-owned store network to 4,000 by December 20, 2024. With over 3,200 new stores set to open, Ola Electric will operate India's largest EV distribution network, covering all the country's pin codes. It is one of the world's most significant expansions of the EV footprint, bolstering access, growth and adoption in the country. All the newly launched stores will be co-located with service facilities, strengthening the company's service network all across the country.

Ola Electric retains market leadership despite traditional two-wheeler rivals ramping up EV sales through their decades-old dealer networks. The company's current 800 stores are only one-fifth of the rival distribution points. The company recently announced the launch of its Gig and S1 Z scooter range, comprising Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+, available at an introductory price of Rs 39,999 (ex-showroom), Rs 49,999 (ex-showroom), Rs 59,999 (ex-showroom), and Rs 64,999 (ex-showroom), respectively. The new range of scooters offers durable, reliable, affordable, and flexible solutions, including removable batteries, fulfilling personal and commercial use cases of rural, semi-urban, and urban customers. Reservations for the Gig and S1 Z series are open at just Rs 499, and deliveries will begin in April 2025 and May 2025, respectively.

In October, Ola Electric had announced a series of initiatives to enhance sales, after-sales, and ownership experience, including taking the store count to 2000 by March 2025. The company is now doubling down on the rollout plan to accelerate the EV adoption in large hinterland markets, the mainstay of two-wheeler sales.

Ola Electric Mobility is an electric vehicle company that primarily manufactures electric vehicles and certain core components for electric vehicles such as battery packs, motors, and vehicle frames at the Ola Futurefactory.

OLA Electric Mobilit Share Price

36.08 0.96 (2.73%)

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