Ola Electric Shares Rise 4% as Dealer-Led Stores Launch in Seven States
· Business · Economic Times, Car and Driver
Ola Electric Mobility shares climbed nearly 4% on Friday after the EV maker rolled out its first wave of dealer-operated stores across Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, Uttar Pradesh and Madhya Pradesh. The stock touched an intraday high of Rs 38.95 on the NSE before settling 1.97% higher at Rs 38.21, giving the company a market capitalisation of Rs 17,685.15 crore. The launch comes within a month of Ola Electric opening its sales and service network to partners on August 6, marking a shift from its earlier fully company-owned retail model that had been in place since its first scooter launch five years ago. The company plans to scale the network to more than 500 dealerships over the next couple of quarters to strengthen its presence in regional markets and cater to local demand for its scooters and motorcycles. The seven states cover a mix of large consumer bases in northern, southern, and central India, giving Ola Electric wider geographic reach through partner ca
Why it matters
Ola Electric's pivot to a dealer-led model opens up faster, lower-capital expansion across tier-2 and tier-3 cities where the company previously had thin presence, directly affecting competing two-wheeler EV brands and the broader Indian electric scooter market. Investors are watching whether this distribution shift can revive demand and lift the stock from sub-Rs 40 levels it has hovered around.
Read the original report — Economic Times
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