Ola Electric expands network to 4,000 stores nationwide

Citigroup initiated a 'buy' call on Ola, with a price target of Rs 90

Ola Electric on Wednesday announced a major expansion of its retail and service network, growing from 800 to 4,000 stores across India. The revamped outlets will double as service centers, enhancing customer convenience and bolstering the company's presence nationwide.

The company has opened over 3,200 new stores co-located with service facilities. The expansion spans beyond metros and Tier I and II cities into smaller towns and tehsils, Ola Electric said in a statement.

"With our newly opened stores co-located with service centres, we have completely redefined EV purchase and ownership experience, setting new benchmarks with our #SavingsWalaScooter campaign,” Ola Electric Chairman & Managing Director Bhavish Aggarwal said.

During the network store launch, the firm also announced launching a limited edition S1 Scooter variant called Ola S1 Pro Sona which claims to have real 24-karat gold plated elements.

The announcement comes just a month after the firm unveiled its new Gig and S1 Z scooter range, featuring four models designed to cater to diverse customer needs. Priced at Rs 39,999 for the Ola Gig, Rs 49,999 for the Ola Gig+, Rs 59,999 for the Ola S1 Z, and Rs 64,999 for the Ola S1 Z+ (all ex-showroom), the scooters come with introductory pricing.