On January 21, 2025, Ola Electric, India’s largest pure-play EV company, witnessed a spike in its share price on the NSE, reaching an intraday high of ₹78.78. The rise followed the company’s announcement of commencing the assembly line for its upcoming electric bike on January 20, 2025. However, by the end of the trading session, the stock pared its gains due to market volatility, closing nearly flat.
In December 2024, Ola Electric unveiled its ambitious plan to expand its company-owned store network fourfold by the end of the year. The target of 4,000 stores would position Ola Electric as India’s largest EV distribution network, covering every pin code in the country.
With 3,200 new stores set to open, this expansion marks one of the most significant strides in the global EV sector. Each new location will include co-located service facilities, ensuring seamless after-sales support. This initiative aims to enhance accessibility and strengthen the company’s foothold in urban, semi-urban, and rural markets alike.
Despite intense competition from traditional 2-wheeler giants leveraging their extensive dealership networks, Ola Electric has retained its market leadership. Currently operating 800 stores—just one-fifth of its competitors’ distribution points—Ola Electric continues to differentiate itself with innovative products and customer-centric strategies.
Ola Electric recently launched its Gig and S1 Z scooter range to cater to diverse customer needs. The lineup includes:
This new range, equipped with removable batteries, offers reliable and affordable solutions for personal and commercial use. Deliveries are scheduled to begin in April 2025 for the Gig series and May 2025 for the S1 Z series.
Reservations for these scooters can be made with a nominal payment of ₹499, reinforcing Ola Electric’s commitment to making EV ownership accessible to a broader audience.
To accelerate EV adoption, Ola Electric has ramped up its store rollout plans, aiming for 2,000 locations by March 2025. This initiative, particularly focused on large hinterland markets, aims to boost the sales and after-sales experience for customers in India’s heartland.
In the Q2FY25, Ola Electric reported a 38.5% increase in revenue, amounting to ₹1,240 crore, compared to ₹896 crore in the same period last year. The company also reduced its net loss to ₹495 crore, down from ₹524 crore in the previous year.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 21, 2025, 4:22 PM IST
Team Angel One
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