Ola Electric gains over 6% after expanding its network to 4,000 stores

Ola Electric shares zoomed in Thursday's session (December 26) by over 6 per cent to the day's high price of Rs 99.9. The sharp gains in the electric mobility stock were triggered after the company has opened over 3,200 new stores, each co-located with service centres.

After the latest expansion, the company's store count has now scaled to 4,000.

Last at around 12:07 pm, the stock was up just over 1 per cent or Rs 1.14 at Rs 95.19 per share- erasing most of the day's gains. Ola Electric Mobility after an at par listing on August 9 has gained nearly 32 per cent until now.

On the NSE, the stock at the day's high has gained up to 99.95 apiece, implying gains of 6.35 per cent in intra-day trade.

The stock hit its fresh 52-week high of Rs 157.53 per share on the BSE on August 20, 2024. 

The company in its filing with the exchanges on December 25, 2024 said, "Ola Electric, India’s largest pure-play EV company, today expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network. One of the world's most significant expansions of the EV footprint, bolstering access, growth, and adoption in the country, Ola Electric cements its leadership in the space."

With the launch of 3,200+ new stores colocated with service facilities, the company is committed to driving large-scale EV adoption enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India. With this expansion, Ola Electric has fulfilled its promise under its #SavingsWalaScooter campaign, it added.

Bhavish Aggarwal, Chairman & Managing Director, 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.” 

Ola Electric discounts

Also, on the sidelines marking the massive network expansion, the company has rolled out attractive offers with benefits ranging up to Rs 25,000 on the S1 portfolio that was exclusively available on December 25, 2024.

Customers can visit their nearest newly launched Ola Store and get a flat discount of up to ₹7,000 on S1 X 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, added the company's filing.