Ola Electric Preparing to Quadruple its Store Network in December

Ola Electric, which has a major share in the electric two-wheeler market, plans to increase its network of stores four times. The company has about 800 stores. Their number will be increased to about 4,000 by the end of this month. Service facility is also available at the company’s existing stores.

The company’s CEO, Bhavish Aggarwal, said in a post on social media platform The new stores will be launched on December 20. With this, Ola Electric aims to deliver electric two-wheelers to every pincode in the country. This will also be the largest distribution network of Electric Vehicles (EV) in the country. Recently the company had also expanded its portfolio of electric scooters.

Ola Electric sales have declined by about 33 percent last month. According to vehicle portal data, the registrations of the company’s electric scooters in November were 27,746 units. This is a decline of about 33 percent on a month-on-month basis in the company’s sales. There was a surge in the company’s sales due to the festive season in October. Last month, Ola Electric’s market share declined to 24 percent. This figure was more than 30 percent in October. However, the company’s first position in this segment remains intact. TVS Motor has the second position in this market with about 23 percent share. However, its sales have also declined by about 13 percent on month-on-month basis. Total registrations of electric two-wheelers in November declined by more than 18 percent month-on-month to around 1.14 lakh units.

Ola Electric launched the S1 Z last month. This electric scooter will be available in two variants. Its starting price is Rs 59,999 (ex-showroom). Its delivery will be started next year. It has electric scooters like S1 Pro, S1 Air and S1X. The company has also introduced its first commercial electric scooter Ola Gig. The S1 Z has two battery packs of 1.5 kWh each. Recently Ola Electric had said that it will soon start manufacturing electric motorcycles. Its electric motorcycle Roadster will be delivered from the beginning of next year.