EV Unicorn Ola Electric To Touch 4000 Stores Mark, Releases All New S1 Pro Sona Scooter

Ola Electric, an electric vehicle company, has announced the opening of 3,200 new outlets, bringing its total number of showrooms and service centers to 4,000.

The move aims to expand EV usage beyond metro and Tier I and II cities to include smaller towns and tehsils across the country.

Bhavish Aggarwal, Ola Electric’s founder and managing director, stated in an X post that “#SavingsWalaScooter is now accessible to every Indian.”

Related: EV Giant Ola Electric Releases Q2FY25 Results, Revenue Falls 26% QoQ to Rs 1,214 Cr, Losses Rise 43%

In addition to opening new stores, the business has created a limited edition electric scooter called the ‘Ola S1 Pro Sona’, which features 24-karat gold-plated parts and a bespoke MoveOS dashboard that allows customers to personalise ride modes and settings.

Ola Electric also stated that it has released the beta version of MoveOS 5, which includes features such as group navigation, live location sharing, road trip mode powered by Ola Maps, smart charging, and tire pressure monitoring system (TPMS) warnings.

Other feature enhancements include ADAS collision warning, Smart Park, which helps Ola riders detect obstructions when parking, and a Krutrim-powered voice control assistant.

The growth comes at a time when Ola Electric is up against stiff competition in the electric vehicle two-wheeler industry from established automakers TVS Motor and Bajaj Auto, as well as other EV competitors such as Ather Energy.

Ola’s market share in the EV 2W segment fell to 24% in November from 46.1% in June, according to Vahan data. During the same period, however, TVS Motor’s and Bajaj Auto’s market shares increased from 14.8% to 23% and 11.3% to 22%, respectively.

In recent months, the company’s public image has deteriorated owing to a variety of circumstances, including poor after-sales support, a government investigation, and safety issues with its electric vehicles.

Despite these obstacles, Ola has continued to introduce new goods such as electric motorbikes, electric three-wheelers, and low-speed electric scooters.

Ola Electric lost INR 495 crore in the second quarter of the current fiscal year (Q2 FY25) while earning INR 1,214 crore in operating revenues.

Earlier reports said that the corporation was planning to lay off approximately 500 people in order to streamline operations and achieve profitability.