Ola Electric Mobility gained 1.22% to Rs 95.20 after the company said that it has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network.
The company stated that with launch of over 3,200 new stores colocated with service facilities, it is committed to driving large-scale EV adoption enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India.Bhavish Aggarwal, chairman & managing director of Ola Electric, said, 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. As we continue to scale, we are committed to pushing the boundaries of innovation and accelerating the countrys journey towards #EndICEAge.
The firm added that it has opened priority registrations for MoveOS 5 beta, with features such as group navigation, live location sharing, road trip mode powered by Ola Maps, among others.
Ola Electric is a leading Indian EV manufacturer focused on vertical integration, overseeing the entire production process from battery cells to final vehicles. Its Futurefactory in Tamil Nadu is a key production hub, supported by global R&D efforts and the Battery Innovation Centre in Bengaluru. Ola's direct-to-customer sales model, with a vast network of physical and online stores, ensures wide accessibility and a seamless customer experience.
Ola Electric Mobility reported net loss of Rs 495 crore in Q2 FY25 as against net loss of Rs 524 crore in Q2 FY24. Revenue from operations jumped 38.39% to Rs 1,240 crore in Q2 FY25 as compared with Rs 896 crore in Q2 FY24.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content