Ola Electric Mobility shares jump 6% on launching 3,200 stores

Ola Electric shares jumped up to 6% to day's high of Rs 99.9 on Thursday after announcing that it has opened over 3,200 new stores co-located with service centres, making it India’s largest EV expansion at one go.

Ola Electric stock is up about 30% in the last one month but down 8% in 3-month timeframe. 

India’s largest pure-play EV company said it now has 4,000 stores nationwide enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India.

Marking the massive expansion of the network, Ola Electric has rolled out attractive offers with benefits ranging up to Rs 25,000 on the S1 portfolio.

Besides, customers can avail additional benefits up to Rs 18,000, including Rs 5,000 on select credit card EMIs and MoveOS benefits worth Rs 6,000.

Ola Electric recently launched its new range of scooters, including the Ola Gig, Gig+, S1 Z, and S1 Z+, with prices starting at Rs 39,999.

These scooters are designed to meet the diverse needs of urban, semi-urban, and rural users with features like durable designs, removable batteries, and flexible solutions.

Deliveries for these models will begin in April and May 2025, with bookings now open for Rs 499.