Ola Electric Mobility Stock Up 6% on Outlet Expansion

26 Dec 2024 , 12:26 PM

After reporting that it has launched over 3,200 new stores that were co-located with service centers, Ola Electric’s shares surged 6% to reach the day’s high of Rs 99.9 on Thursday. This is India’s largest EV expansion to date.

Over the past month, Ola Electric’s stock has increased by almost 30%, but over the prior three months, it has decreased by 8%.

With 4,000 stores nationally, the largest pure-play EV company in India claims to have expanded its reach beyond tier-1 and tier-2 cities to nearly every town and tehsil in the country.

“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,” Bhavish Aggarwal, MD of Ola Electric, stated.

Ola Electric has introduced alluring deals with advantages up to Rs 25,000 on the S1 portfolio to commemorate the network’s enormous expansion.

Customers can also take advantage of extra perks up to Rs 18,000, such as Rs 5,000 on certain credit card EMIs and Rs 6,000 on MoveOS benefits.

The Ola Gig, Gig+, S1 Z, and S1 Z+ are among the latest scooters that Ola Electric has introduced; they start at Rs 39,999.

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