On Tuesday, Ola Electric’s stock saw a rise of 1.53 per cent, closing at Rs. 94.05. This marked a significant rebound after several days of decline, driven by controversies such as a heated exchange with comedian Kunal Kamra.
Bhavish Aggarwal’s Ola Electric achieved a new milestone on the occasion of Christmas by inaugurating 3,200 new stores across India. With this addition, the total number of Ola Electric stores has reached 4,000, making it the largest EV distributor in the country. Bhavish Aggarwal shared this announcement on X (formerly Twitter). In his post, Bhavish expressed excitement, stating, “What energy and what a crowd! Over 1 lakh people joined us in celebrating the opening of 4,000 @OlaElectric stores across India!” He also shared several photos and videos from the celebrations. Earlier, on December 2, Bhavish had announced on X that the company planned to increase its store count from 800 to 4,000 nationwide.
What energy, and what a turnout!
Over 1 lakh people have come to join us as we celebrate the opening of 4000 @OlaElectric stores in India!#SavingsWalaScooter is now accessible to every Indian!💰🛵⚡ pic.twitter.com/xjvuqo2dCF— Bhavish Aggarwal (@bhash) December 25, 2024
Surge in Ola Electric’s stock
On Tuesday, Ola Electric’s stock saw a rise of 1.53 per cent, closing at Rs. 94.05. This marked a significant rebound after several days of decline, driven by controversies such as a heated exchange with comedian Kunal Kamra. However, the stock is still far below its 52-week high of Rs. 157.53. It is worth noting that the stock market remained closed for Christmas.
Launch of a new scooter variant
As part of the celebrations, Ola Electric introduced a new color variant for its electric scooter—the Ola S1 Pro Gold Edition, which features a golden hue. Customers can win this limited-edition scooter through a special contest organized by the company.
Service centers in new stores
Ola Electric has often faced criticism for its scooter servicing issues. Addressing this, the company’s new stores will also feature service centers to enhance the customer experience.
Market leadership in electric scooters
Currently, Ola Electric is the leading electric scooter company in India, commanding a 33 per cent market share. Ather Energy follows with 31 per cent, while Kinetic Green and Redboards each hold 12 per cent, and Simple Energy accounts for 10 per cent.
With this significant expansion, Ola Electric continues to solidify its dominance in the Indian EV market.
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