Ola Electric’s store count to touch 4,000 on Christmas

Ola Electric will open 3,200 stores on December 25, marking a fourfold increase in the electric two-wheeler’s brick-and-mortar store footprint. This would bring the company’s total store count to 4,000.

With the expansion, part of the company’s new #SavingsWalaScooter campaign, Ola Electric looks to bring its products closer to households.

On December 2, the company said it would open these stores by December 20. This date has been pushed to Christmas.

Additionally, these new stores will be opened across metros as well as Tier II and III towns.

The expansion comes amidst the company’s declining market share in November and rising consumer complaints over its after-sales services. To address the same, the 3,200 new stores will be co-located with service centres.

According to Vahan data, Ola Electric sold 29,196 units in November compared to 41,775 units in October, resulting in a decline in its market share to 24.7%. This is a marked decline from its market share of 31.2% in August when the company was listed on Indian stock exchanges.

However, the company retained its position as the market leader in the electric two-wheeler space ahead of Bajaj Auto and TVS Motor, which had a market share of 22% and 23%, respectively.

The EV-maker is also deploying steps to achieve profitability, a sticking point that has haunted the company since it went public. To achieve this, Ola Electric has undertaken a restructuring exercise that is expected to affect 450-500 employees, YourStory had reported.

The company will also begin delivering its new range of motorcycles, the Roadster series, and has already launched models of its Ola Electric Gig which aims to target the booming gig economy and last-mile delivery demand amidst a rise in the ecommerce and quick commerce segment.

(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric)