Ola Electric Announces Historic Expansion: 4,000 Stores to Open on December 20

Bhavish Aggarwal, Chairman & Managing Director of Ola Electric, has announced a groundbreaking expansion in India’s electric mobility landscape. In a post on X (formerly Twitter), he revealed that Ola Electric will open 4,000 new stores across the country on December 20, 2024. This move, which increases their existing network from 800 to 4,000 locations, is expected to be the largest single-day store opening event ever.

Key Highlights of the Announcement

1. Massive Network Expansion

• The 4,000 stores will cover every pin code in India, ensuring accessibility to customers in urban, semi-urban, and rural areas.
• Each store will include co-located service facilities, improving after-sales service and customer support.

2. Focus on Electric Mobility

This expansion is a step towards India’s transition to electric vehicles (EVs), as Ola Electric aims to lead the charge in the #EndICEAge (end of internal combustion engine vehicles).

New Range of Scooters

Ola Electric recently launched its new lineup of scooters to meet the diverse needs of Indian customers:

• Models: Ola Gig, Gig+, S1 Z, and S1 Z+.
• Starting Price: ₹39,999.
• Target Users: Designed for urban, semi-urban, and rural markets with durable builds and removable batteries for added convenience.
• Bookings: Open now for ₹499.
• Deliveries: Scheduled for April and May 2025.

Market Impact

Following the announcement, Ola Electric’s shares surged by 6.85%, reaching ₹93.41 on the BSE. This reflects strong investor confidence in the company’s aggressive expansion and product lineup.

Bhavish Aggarwal’s Vision

Aggarwal emphasized the significance of this expansion for India’s EV future:

“India is swiftly moving towards electric mobility. Ola Electric’s massive network expansion will be a pivotal moment in this journey. With our wide D2C network and touchpoints under the Network Partner Program, we will cover the entire country beyond tier-I and tier-II cities. This move will democratize electric mobility and add buoyancy to the domestic EV economy.”

Revolutionizing the EV Market in India

Ola Electric’s initiative is set to:

• Accelerate the adoption of electric vehicles in rural and semi-urban areas.
• Make EVs more accessible and convenient through local service and support facilities.
• Strengthen India’s domestic EV market, boosting economic growth and reducing dependence on fossil fuels.

Conclusion

With its massive 4,000-store expansion, Ola Electric is cementing its position as a leader in India’s electric vehicle revolution. The launch of affordable and versatile scooters, combined with an expansive service network, ensures the company is well-placed to drive India’s shift toward sustainable mobility.

The event on December 20 will not only be historic for Ola Electric but also for the future of EV adoption in India.