Ola Electric Mobility shares jump 6% on launching 3,200 stores

Shares of the recently-listed company Ola Electric Mobility jumped up to 6% to day’s high of Rs 99.9 on Thursday after announcing that it has opened over 3,200 new stores co-located with service centres, making it India’s largest EV expansion at one go.

India’s largest pure-play EV company said it now has 4,000 stores nationwide enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India.

“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,” said Ola Electric MD Bhavish Aggarwal.

Marking the massive expansion of the network, Ola Electric has rolled out attractive offers with benefits ranging up to Rs 25,000 on the S1 portfolio.

Besides, customers can avail additional benefits up to Rs 18,000, including Rs 5,000 on select credit card EMIs and MoveOS benefits worth Rs 6,000.

Ola Electric recently launched its new range of scooters, including the Ola Gig, Gig+, S1 Z, and S1 Z+, with prices starting at Rs 39,999. These scooters are designed to meet the diverse needs of urban, semi-urban, and rural users with features like durable designs, removable batteries, and flexible solutions. Deliveries for these models will begin in April and May 2025, with bookings now open for Rs 499.Also read | Sensex forecast to conquer fresh record high of 90,000 in 2025: ETMarkets PollAs part of its strategy to accelerate EV adoption, particularly in rural areas, Ola Electric also introduced the #HyperService initiative to ensure complete service coverage. Furthermore, the company launched a Network Partner Program, aiming to onboard 10,000 partners for sales and service by the end of 2025, and an EV Service Training Program to train 1 lakh mechanics across India.