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

Ola Electric, India's largest pure-play EV company, today announced plans 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 signicant 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.

Regarding the expansion, Bhavish Aggarwal, Chairman & Managing Director of Ola Electric, said: "While India is swiftly moving towards electric mobility, Ola Electric's massive network expansion will be a pivotal moment in the country's journey towards #EndICEAge. With our wide D2C network and the touchpoints under our Network Partner Programme, we will cover the entire country beyond tier-I and tier-2 cities. It will enable our best-in-class product oerings to democratise electric mobility, adding buoyancy to the domestic EV economy."

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-fth 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 ₹39,999 (ex-showroom), ₹49,999 (ex-showroom), ₹59,999 (ex-showroom), and ₹64,999 (ex-showroom), respectively. The new range of scooters oers durable, reliable, aordable, and exible solutions, including removable batteries, fullling personal and commercial use cases of rural, semi-urban, and urban customers. Reservations for the Gig and S1 Z series are open at just ₹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.

The massive store expansion, with service centers alongside, will give momentum to the company's #HyperService initiative launched recently. Additionally, the company introduced the Network Partner Program to onboard 10,000 partners across sales and service by the end of 2025. It also announced its EV Service Training Program with the aim of training 1 lakh third-party mechanics to make every mechanic EV-ready across India.

Besides the new launches, Ola Electric oers an expansive S1 portfolio with six oerings across attractive price points catering to customers with dierent range requirements. While the premium oerings S1 Pro and S1 Air are priced at ₹1,34,999 and ₹1,07,499, respectively, the mass market oerings include the S1 X portfolio (2 kWh, 3 kWh, and 4 kWh) priced at ₹74,999, ₹87,999, and ₹101,999, respectively.

At its annual 'Sankalp' event in August 2024, the company announced the launch of its Roadster motorcycle series, comprising Roadster X (2.5 kWh, 3.5 kWh, 4.5 kWh), Roadster (3.5 kWh, 4.5 kWh, 6 kWh), and Roadster Pro (8 kWh, 16 kWh). The motorcycles oer many segment-rst technology and performance features, with their prices starting from INR 74,999, INR 1,04,999, and INR 1,99,999, respectively.

Shares of OLA Electric Mobility Limited was last trading in BSE at Rs. 87.42 as compared to the previous close of Rs. 92.93. The total number of shares traded during the day was 5724159 in over 25500 trades.

The stock hit an intraday high of Rs. 92.49 and intraday low of 86.75. The net turnover during the day was Rs. 508755275.00.

Source : Equity Bulls

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INE0LXG01040 OLAElectricMobility TwoWheelers ThreeWheelers ElectricVehicles Expansion CompanyOwned StoreNetwork