Ola Electric started December 2 on a strong note after the company’s CEO, Bhavish Aggarwal, announced an aggressive store expansion. Its store count is likely to increase from 800 to 4,000 by December 20, 2024, in what Aggarwal termed “the biggest single-day store opening ever.”
Aggarwal announced this on platform X, while adding all new stores shall also house service capabilities. The announcement saw Ola Electric stock take a sharp recovery and trade 4.5% higher at ₹91.34 apiece by 1:25 PM to reach a day’s high of ₹93.7.
Recent Developments Boosting Ola Electric’s Shares
Ola Electric’s stock has surged 30% in recent trading sessions following several key announcements:
- Commercial Segment Entry: The company unveiled its ‘Gig’ scooter range with introductory prices starting at ₹39,999, targeting gig workers.
- S1 Z Launch: A personal-use electric scooter priced at ₹59,999, catering to urban commuters.
- PowerPod Launch: An inverter priced at ₹9,999, allowing homes to be powered using portable batteries.
Focus on Expansion and Innovation
Ola Electric’s aggressive push into both personal and commercial EV segments, combined with the upcoming large-scale store expansion, underscores its ambition to dominate the Indian EV market.
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Source: Moneycontrol
News Desk
