Ola Electric to Increase Distribution Network to 4,000 Stores by December to Drive Business Growth

03 Dec 2024

Ola Electric, a prominent electric vehicle (EV) company in India, has unveiled an ambitious plan to expand its distribution network, targeting 4,000 stores by December 20, 2024. This growth, which involves adding more than 3,200 new outlets to its current 800 stores, will position Ola Electric as the largest EV distributor in the country.

After this announcement, Ola Electric's shares surged by almost 6.85%, reaching ?93.41 on the BSE on Monday. The upcoming stores will be strategically located across all pin codes in India, ensuring wide-reaching coverage, including in rural and semi-urban regions. Additionally, each store will feature integrated service facilities, improving customer support and after-sales services.

Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, highlighted the significance of this expansion in driving the country's shift towards electric mobility. He said, "As India rapidly transitions to electric mobility, Ola Electric's extensive network expansion will play a crucial role in the nation's progress towards #EndICEAge. Through our expansive direct-to-consumer (D2C) network and touch-points via our partner program, we aim to extend coverage across the entire country, reaching beyond tier-1 and tier-2 cities. This will make our top-tier products more accessible, helping to drive the growth of the domestic EV economy."