Stock in Focus: Ola Electric Surges Ahead with 4,000-Store Expansion

Ola Electric, India’s leading electric vehicle (EV) manufacturer, has announced a significant milestone with the expansion of its retail and service network to 4,000 stores across the country. This marks a fourfold increase in Ola’s footprint, making it one of the largest expansions in India’s EV sector. Ola Electric Mobility’s share price opened 3.21% higher on the NSE on December 26, 2024.

Breaking Barriers—Reaching Every Town and City

Ola Electric’s expansion goes beyond metro cities and Tier 1 and 2 towns, extending to smaller towns and tehsils. This move aims to democratise access to electric vehicles, aligning with the company’s mission to lead the EV revolution and phase out internal combustion engines (#EndICEAge).

Chairman and Managing Director Bhavish Aggarwal expressed enthusiasm, stating, “We promised, and now we have delivered! With our stores and service centres, we are setting new benchmarks for EV ownership.”

Exciting Offers and New Launches

To celebrate this milestone, Ola Electric has rolled out offers worth up to ₹25,000 on its S1 portfolio. Customers can avail of discounts, credit card benefits, and software upgrades through MoveOS 5, which includes features such as:

• Group Navigation
• Live Location Sharing
• Road Trip Mode

Limited Edition Models—Combining Luxury with Technology

The Ola S1 Pro Sona, launched as a limited-edition model, features 24-karat gold-plated elements and a premium design. It also introduces a customisable dashboard, enhancing user experience with gold-themed interfaces and advanced settings.

Affordable EV Options for All Segments

Expanding its offerings, Ola introduced the Gig and S1 Z scooter ranges at competitive prices starting from ₹39,999. These models feature:

• Removable batteries
• Flexible usage for urban and rural customers

Reservations for these models are open for ₹499, with deliveries scheduled for April and May 2025.

A Vision for a Greener Tomorrow

With its Futurefactory in Tamil Nadu and a Battery Innovation Centre in Bengaluru, Ola Electric is at the forefront of EV technology and manufacturing. The company continues to focus on sustainable innovation, aligning its growth with India’s shift towards greener transportation.

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