The shares of Ola Electric Mobility Limited witnessed a 6.35% rally on Thursday as the company reported that its network of stores across the country has seen a four-fold increase to 4,000 stores.
This occurred due to the launch of 3,200 stores with service facilities beyond Tier-1 and Tier-2 cities to most of the towns and tehsils across the country in an attempt to drive large-scale EV adoption.
“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,” remarked Bhavish Aggarwal, chairman and managing director of Ola Electric Mobility Limited.
The company also unveiled offers with benefits of up to ₹25,000 on its S1 portfolio, applicable only on Christmas Day, December 25, 2024. This included flat discounts of up to ₹7,000 on the S1 X series, additional benefits aggregating to ₹18,000 such as 5,000 off on select credit card EMIs and MoveOS perks of ₹6,000.
To commemorate its network expansion, the company launched its limited edition S1 Pro Sona scooter which featured real 2-karat gold-plated accents. The company opened priority registrations for its MoveOS 5 beta which introduces features like Live Location Sharing, Group Navigation, Road Trip Mode powered by Ola Maps, Smart Charging, Smart Park, and TPMS alerts.
The S1 portfolio includes six models with the premium S1 Pro and S1 Air priced at ₹1,34,999 and ₹1,07,499, respectively. The mass-market S1 X series, available in 2 kWh, 3 kWh, and 4 kWh variants, is priced at ₹74,999, ₹87,999, and ₹1,01,999, respectively.
At close on Thursday, the shares of Ola Electric Mobility Limited were marginally lower by 0.46% at ₹93.55 as compared to the previous close of ₹93.98 per share on the National Stock Exchange (NSE).
Summary: Ola Electric Mobility Limited shares saw a 6.35% rally as the company increased its presence across the country by increasing its stores four-fold to 4,000 stores.
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