Ola Electric shares rise 6% as CEO says company's store count will rise from 800 to 4,000 on Dec 20

Ola Electric shares rise 6% as CEO says company's store count will rise from 800 to 4,000 on Dec 20

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26 Aug, 2025 12:21

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Shares of Ola Electric posted a massive recovery from day's low on December 2 after its CEO Bhavish Aggarwal gave a big update on the number of stores of the company.

"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 ever," said Aggarwal on X platform.

He added that all the stores will have service capacity too.

The update helped the EV company's shares to rebound sharply from day's low to trade in firm green.

At 1:25 pm on December 2, Ola Electric's shares were trading 4.5% higher at Rs 91.34 apiece. The day's high of the stock is Rs 93.7.

Ola Electric shares rose a whopping 30% in the past few trading sessions after the company announced its foray into the commercial segment.

Last week, Ola launched 'Gig' range of scooters with an introductory price of Rs 39,999, targeting gig workers.

The company also launched its S1 Z model, a personal-use electric scooter aimed at urban commuters priced at Rs 59,999.

The Gig range has been designed to address the needs of gig workers involved in both shorter and longer trips through two variants -- 'Gig' and 'Gig+' -- with introductory prices of Rs 39,999 and Rs 49,999 (ex-showroom), respectively.

The range will be available for business-to-business (B2B) purchases and rentals, Ola Electric said in a statement.

The term 'Gig' is aimed at gig workers involved in shorter trips. It offers a range of 112 km on single charge with a top speed of 25 kmph. It comes with a removable 1.5 kWh battery, a hub motor.

On the other hand, 'Gig+' is built for gig workers having to travel longer distances with heavier payloads. It comes with a top speed of 45 km/hr and a removable single/dual battery of 1.5 kWh with a range of 81 km, the company said.

Under the S1 Z range, the company introduced two variants, 'S1 Z' and 'S1 Z+' at introductory prices of Rs 59,999 and Rs 64,999 respectively.

While S1 Z is a personal-use electric scooter aimed at urban commuters who value style, performance, and convenience, Ola Electric said the 'S1 Z+' is a dual-usage electric scooter designed for both personal and light commercial use with a robust body.

Both the 'S1 Z' and 'S1 Z+' have removable dual batteries of 1.5 kWh each with a range of 75 km and top speeds of 70 kmph.

The company also launched its PowerPod, an inverter that powers homes using its portable batteries, priced at Rs 9,999.