Ola Electric Mobility's stock price increased following the opening of more than 3,200 new stores that were situated next to service centers. This growth makes it the biggest EV market expansion in India. Today, the corporation operates 4,000 outlets across the country. In order to achieve greater market penetration and EV adoption, Ola Electric also introduced a number of promotions and new scooter models.
After reporting that it has launched over 3,200 new stores that were co-located with service centers, Ola Electric's shares surged 6% to reach the day's high of Rs 99.9 on Thursday. This is India's largest EV expansion to date.Over the past month, Ola Electric's stock has increased by almost 30%, but over the prior three months, it has decreased by 8%.
With 4,000 stores nationally, the largest pure-play EV company in India claims to have expanded its reach beyond tier-1 and tier-2 cities to nearly every town and tehsil in the country.
"With our newly opened stores co-located with service centres, we have completely redefined EV purchase & ownership experience, setting new benchmarks with our #SavingsWalaScooter campaign," stated the president of Ola Electric.
Ola Electric has introduced alluring deals with advantages up to Rs 25,000 on the S1 portfolio to commemorate the network's enormous expansion.
Customers can also take advantage of extra perks up to Rs 18,000, such as Rs 5,000 on certain credit card EMIs and Rs 6,000 on MoveOS benefits.
The Ola Gig, Gig+, S1 Z, and S1 Z+ are among the latest scooters that Ola Electric has introduced; they start at Rs 39,999. With characteristics including robust designs, detachable batteries, and adaptable solutions, these scooters are made to satisfy the various needs of users in urban, semi-urban, and rural areas. Reservations for these models are currently being accepted for Rs 499, and deliveries are scheduled to start in April and May 2025.
Ola Electric also launched the #HyperService campaign to guarantee full service coverage as part of its plan to hasten EV adoption, especially in rural regions. Additionally, the business started a Network Partner Program with the goal of onboarding 10,000 partners for service and sales by the end of 2025.
... a program to train one lakh mechanics throughout India on EV service.
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