Ola Electric CEO Bhavish Aggarwal Plans To Set Up 4,000 New Stores

Ola Electric, a leader in India’s electric vehicle (EV) market, has announced an expansion plan to open 4,000 new stores in December. The move is a part of the company's campaign which aims to make EVs more accessible to every Indian household.

In a video message posted on his official social media handle, Bhavish Aggarwal, CEO and co-founder of Ola Electric, revealed that the expansion would cover every town, city, 'tehsil', and 'taluka' in India, ensuring that each region has both a sales and service center for Ola Electric products. "Every single Indian can buy an EV for his or her future," Aggarwal said, emphasizing the firm's goal to bring affordable electric mobility to all corners of the country.

The new stores, which will be co-located with service centers, are designed to address Ola Electric’s previous customer service challenges. They will provide comprehensive sales and after-sales support to customers, ensuring a seamless experience for those switching to electric vehicles.

Ola Electric’s expanded footprint of more than 3,200 new stores, in addition to its existing locations, will help the company cater to consumers across metro areas, Tier-2, and Tier-3 towns.

The move is expected to significantly accelerate the adoption of electric vehicles in India, aligning with Ola Electric's vision of transitioning the country away from internal combustion engine (ICE) vehicles.

In a separate update, Ola Electric’s shares closed at Rs 95.15 per share, down 40 per cent from its all-time high, but still 30 per cent higher than its all-time low.

The company’s ongoing efforts include integrating its own batteries into future models, with the first such vehicles expected to launch in Q1 of the next financial year.

Since its inception in 2017, Ola Electric has made significant strides, delivering its first EV scooter, the Ola S1 Pro, in December 2021.