EV company Ola Electric has announced the expansion of its distribution network, aiming to increase the number of stores to 4,000 by December 20, 2024. This expansion, which includes more than 3,200 new outlets in addition to its existing 800 stores. This decision will make Ola Electric the largest EV distributor in the country. After the announcement, shares of Ola Electric rose by about 6.85% to Rs 93.41 on BSE on Monday.
The CEO of the company gave information
The new stores will be spread across all pin codes of India, ensuring wide coverage including rural and semi-urban areas. Service facilities will also be provided in each new store, which will enhance customer support and after sales service facilities. Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, emphasized the importance of this expansion in the country’s move towards electric mobility. He told that Ola is going to create a new history by opening the store together on 20th December.
Taking the Electric revolution to the next level this month.
Going from 800 stores right now to 4000 stores this month itself. Goal to be as close to our customers as possible.
All stores opening together on 20th Dec across India. Probably the biggest single day store opening
— Bhavish Aggarwal (@bhash) December 2, 2024
What is the company’s plan?
The company says that with our D2C network and touchpoints under our network partner program, we will cover the entire country beyond Tier-I and Tier-2 cities. This will enable our best-in-class product offerings to democratize electric mobility, thereby fueling the domestic EV economy.
Despite being only one-fifth the size of traditional two-wheeler manufacturers, Ola Electric has managed to maintain its market leadership due to its direct-to-consumer model, competitive pricing and innovative products. Ola Electric has recently launched its new range of scooters, which include Ola Gig, Gig+, S1 Z and S1 Z+, whose prices start at Rs 39,999.