Ola Electric Powers Up: Expands to 4,000 stores, share price zooms 6%

Ola Electric share price: Bhavish Aggarwal-led electric vehicle (EV) company, Ola Electric share price was buzzing in trade on Thursday, December 26, 2024, as the scrip rallied up to 6.22 per cent to hit an intraday high of Rs 99.90 apiece.

 

The rally in Ola Electric share price came after the company announced that it has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network. With the launch of over 3,200 new stores colocated with service facilities, the company 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 and managing director of Ola Electric said, “We promised, and now we have delivered! Today marks a significant milestone in India’s EV journey as we expand our network to every city, town, and taluk. 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 country’s journey towards #EndICEAge.” 

 

Ola Electric new offerings 

Marking its massive network expansion, Ola Electric has introduced exclusive offers with benefits worth up to Rs 25,000 on its S1 portfolio, valid only on December 25, 2024. Customers can visit the newly launched Ola Stores to avail flat discounts of up to Rs 7,000 on the S1 X series. Additional benefits worth Rs 18,000, including Rs 5,000 on select credit card EMIs and MoveOS perks valued at ₹6,000, are also available.

 

Limited-Edition Ola S1 Pro Sona 

Ola has launched the exclusive S1 Pro Sona scooter, featuring real 24-karat gold-plated accents, to commemorate its network expansion. The premium scooter has drawn major attention at Ola Stores, with customers enthusiastically participating in the #OlaSonaContest to win this luxurious limited-edition model.

 

The S1 Pro Sona includes the immersive ‘Sona Mood,’ offering a gold-themed interface for the Ola app, a personalised MoveOS dashboard, and enhanced ride modes for a superior riding experience.

 

MoveOS 5 

Ola Electric has also opened priority registrations for MoveOS 5 beta, introducing cutting-edge features like Group Navigation, Live Location Sharing, Road Trip Mode powered by Ola Maps, Smart Charging, Smart Park, and TPMS alerts. These updates elevate the overall riding experience for Ola users, the company said.

 

The company recently launched the Gig and S1 Z scooter ranges, priced affordably at Rs 39,999, Rs 49,999, Rs 59,999, and Rs 64,999 (ex-showroom) for the Ola Gig, Gig+, S1 Z, and S1 Z+, respectively. 

 

Designed for both personal and commercial use, these models offer durable solutions with removable batteries, catering to rural, semi-urban, and urban customers. Reservations are open for Rs 499, with deliveries starting in April 2025 for Gig and May 2025 for S1 Z models.

  Meanwhile, Ola Electric’s S1 portfolio includes six models to suit diverse customer needs. The premium S1 Pro and S1 Air are priced at Rs 1,34,999 and Rs 1,07,499, respectively. The mass-market S1 X series, available in 2 kWh, 3 kWh, and 4 kWh variants, is priced at Rs 74,999, Rs 87,999, and Rs 1,01,999, respectively.

  Roadster Motorcycles 

At its flagship annual event, Sankalp, Ola announced the launch of its Roadster motorcycle series. The lineup includes the Roadster X (2.5 kWh, 3.5 kWh, 4.5 kWh), Roadster (3.5 kWh, 4.5 kWh, 6 kWh), and Roadster Pro (8 kWh, 16 kWh). The motorcycles boast segment-first features, with prices starting at Rs 74,999, Rs 1,04,999, and Rs 1,99,999, respectively.

 

Ola Electric IPO price 

The shares of Ola Electric Mobility made a subdued debut on the bourses despite upbeat market sentiments. Ola Electric IPO share listed flat at Rs 75.99 on the BSE and Rs 76 on the NSE, against the issue price of Rs 76. 

 

About Ola Electric 

Ola Electric, a pure EV player in India, is developing vertically integrated technology and production capabilities for EVs and EV components, including batteries.

 

The Bhavish Aggarwal-led company, which has approximately a 35 per cent market share in India's electric two-wheeler market in FY24, is focused on developing vertically integrated technology and production capabilities for EVs and EV components, including cells. 

 

The market capitalisation of Ola Electric is Rs 43,226.13 crore, according to BSE. The company falls under the BSE IPO category.

 

At 9:36 AM, Ola Electric shares were trading 2.63 per cent higher at Rs 96.52. In comparison, BSE Sensex was trading 0.43 per cent higher at 78,809.43 levels.