Ola Electric, one of India’s leading electric vehicle (EV) startups, has announced a major expansion of its retail network, with the opening of 3,200 new stores across the country.
This move brings the company’s total network to 4,000 showrooms and service centres, marking a significant step in Ola Electric’s mission to drive EV adoption beyond major cities and into smaller towns and rural areas.
In a post on X, Bhavish Aggarwal, Founder and Managing Director of Ola Electric, stated, “#SavingsWalaScooter is now accessible to every Indian,” underscoring the company’s commitment to making affordable electric mobility available to a wider population.
The expansion includes the launch of a limited edition electric scooter, the ‘Ola S1 Pro Sona.’
The new model features 24-karat gold-plated elements and a customized MoveOS dashboard that allows users to personalize ride modes and settings.
This premium offering highlights Ola’s efforts to cater to different segments of the market while enhancing the appeal of its electric scooters.
Ola Electric is also rolling out an upgraded version of its operating system, MoveOS 5, which introduces several new features for its riders.
These include group navigation, live location sharing, and a new road trip mode powered by Ola Maps.
The update also introduces smart charging capabilities, tire pressure monitoring system (TPMS) alerts, and advanced driver-assistance systems (ADAS) that offer collision warnings and smart parking assistance.
The company has been facing growing competition in the electric two-wheeler market, with established players like TVS Motor and Bajaj Auto, as well as other EV manufacturers such as Ather Energy, making significant strides.
According to Vahan data, Ola Electric’s market share in the electric two-wheeler segment has dropped from 46.1% in June to 24% in November.
Meanwhile, competitors like TVS and Bajaj have seen their market shares rise significantly, with TVS increasing its share from 14.8% to 23%, and Bajaj growing from 11.3% to 22%.
Despite these challenges, including concerns over after-sales service and safety issues with some of its vehicles, Ola Electric continues to innovate and expand.
The company has also made moves to diversify its product range, including electric motorcycles, three-wheelers, and low-speed electric scooters, as part of its broader strategy to lead the EV revolution in India.
Financially, Ola Electric reported a net loss of INR 495 crore for the second quarter of FY25, despite an operating revenue of INR 1,214 crore.
The company has also been streamlining operations, including laying off around 500 employees, in an effort to achieve profitability.
