Share of Ola Electric, an electric vehicle (EV) firm managed by Bhavish Aggarwal, soared 6% on Thursday, 26 December 2024, after the company announced that it had tripled its network from its current size to 4,000 stores nationwide.
The company is committed to encouraging widespread EV adoption, extending beyond tier-1 and tier-2 cities to open more than 3,200 new outlets that double as service facilities. This will enable deeper penetration into almost every town and tehsil in India.
Bhavish Aggarwal, chairman and managing director of Ola Electric, said, “We promised, and now we have delivered! Today marks a significant milestone in India’s EV journey as we expand our network to every city, town, and taluk. 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. As we continue to scale, we are committed to pushing the boundaries of innovation and accelerating the country’s journey towards #EndICEAge.”
In honour of its massive network expansion, Ola Electric has introduced exclusive offers on its S1 portfolio with benefits of up to Rs 25,000. The deadline for these deals is 25 December 2024. Customers who visit the newly inaugurated Ola Stores will benefit from flat discounts of up to Rs 7,000 on the S1 X series. Additional incentives totalling Rs 18,000 are also available, including Rs 5,000 on specific credit card EMIs and ₹6,000 in MoveOS benefits.
Ola Electric, one of the top EV manufacturers in India, is developing vertically integrated technology and production capability for EVs and their battery-related components.
The company run by Bhavish Aggarwal, which held over 35% of the Indian electric two-wheeler market in FY24, is focused on developing vertically integrated technology and production capabilities for EVs and EV components, including cells.
At 1:29 pm, the shares of Ola Electric Shares were trading 0.74% higher at Rs 94.88 on NSE.
Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!
