This move includes addition of 3,200 new stores to the Bhavish Aggarwal-led company’s existing 800 outlets
The stores will be co-located with service facilities to bolster the EV manufacturer’s services, Ola Electric said in a statement
Recently, the company launched electric scooters, S1 Z and Gig to cater to gig economy workers and cost-conscious consumers
Electric two-wheeler manufacturer Ola Electric has announced expansion of its distribution network to 4,000 stores by December 20 as part of its effort to fuel EV access and adoption across India.
This move includes addition of 3,200 new stores to the Bhavish Aggarwal-led company’s existing 800 outlets.
“Taking the electric revolution to the next level this month. Going from 800 stores right now to 4,000 stores this month itself. Goal to be as close to our customers as possible,” Aggarwal said in a post on X.
In what Aggarwal terms could be the ‘biggest single day store opening’, the company is looking for a fourfold expansion of its distribution network covering all pincodes in the country.
The stores will be co-located with service facilities to bolster the EV manufacturer’s services, Ola Electric said in a statement.
“With our wide D2C network and the touchpoints under our network partner program, we will cover the entire country beyond tier I and tier II cities,” said Aggarwal.
Recently, the company launched electric scooters, S1 Z and Gig to cater to gig economy workers and cost-conscious consumers.
Starting at INR 39,999, the models under Ola Gig will directly compete with offerings from players like Yulu, targeting short-distance commutes and delivery use cases.
The announcement also comes days after Inc42 learnt that the company is undergoing a restructuring exercise to cut its workforce by about 500. The exercise will impact Ola Electric’s workforce across departments and levels.
Aggarwal’s second unicorn is aiming to minimise expenses to drive profitability and improve margins. However, there isn’t any set time period for the completion of the exercise, Inc42 learnt from the sources.
The company’s EV registrations, which crossed the 40,000 mark in October, saw a 33% MoM decline to 27,746 units in November. Ola Electric’s market share in the electric two-wheeler market dipped to 24% from about 30% in October.
