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Ola expands to 4,000 locations, introduces new scooter models

Ola Electric has opened more than 3,200 stores and service centers in India’s major cities and smaller towns in just one day, expanding to 4,000 locations.

Following the announcement, Ola Electric’s stock rose by 6% to 99.9 rupees (US$1.17).

The company has introduced new electric scooter models starting at 39,999 rupees (US$469.15), targeting urban, semi-urban, and rural consumers.

Deliveries for these models are expected in April and May 2025, with bookings now open.

Recent Ola Electric developments

Timeline
03-Jun-2024 📉 Ola Electric eyeing up to 500 job cuts before IPO: report
  • Ola Electric to lay off 400-500 employees
  • Plans IPO aiming to raise $662 million
02-Jan-2024Ola Electric captures 40% market share in India’s two-wheeler EV segment
  • Ola Electric holds 40% market share in EVs
  • Sold 30,000 EVs in December, a 74% increase
22-Mar-2023Ola Electric eyes up to $300m raise in new round
  • Ola Electric seeks to raise $300 million.
  • SoftBank’s stake will drop to nearly 19%.
29-Jul-2022 🔋 Ola Electric briefly suspends production at Future Factory
  • Ola Electric halts e-scooter production for maintenance
  • Plans $500M battery center after staff layoffs
18-Jul-2022 🔋 Ola Electric to set up $500m battery research facility
  • Ola Electric invests $500M in battery center
  • Plans to hire 500 engineers amid EV quality issues

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