Ola Electric Mobility Ltd (Ola Electric) announced the opening of 3,200 stores in a single day as it attempts to aggressively beef up its network and address customer service complaints.
This will take its sales and service network to 4,000 stores nationwide, registering a four-fold increase.
The electric vehicle (EV) firm said this will increase access, growth and adoption of EVs in the country.
It added that the launch of these 3,200 new stores co-located with service facilities, will also enable deeper penetration beyond Tier-1 and Tier-2 cities to almost every town and tehsil across India.
Last week, Ola Electric had said that its "#SavingsWalaScooter’’ campaign aligns with the democratise EV mobility and transition India decisively away from ICE vehicles. The company added that by leveraging its direct-to-consumer (D2C) model, it is ensuring that EV ownership becomes a reality for every household.
Ola Electric made its stock exchange debut on August 9 this year and on the listing day its shares ended at ₹91.18 on the BSE compared with its issue price of ₹76 per share.
However, since then it has faced a bumpy ride on the bourses. On Tuesday, it closed at ₹94.05. At these levels, the scrip has lost more than 40 per cent from the 52-week high of ₹157.53 touched on August 20.
This came about as the company faced challenges that include customer dissatisfaction.
Earlier this month, Ola Electric said that it has received a show cause notice from the Central Consumer Protection Authority (CCPA). The CCPA gave the company a timeline of 15 days from the date of email communication to submit its response.
Commenting on the opening of more than 3,200 stores, Bhavish Aggarwal, chairman and managing director, Ola Electric, said: “We promised, and now we have delivered! Today marks a significant milestone in India’s EV journey as we expand our network to every city, town, and taluk.
“With our newly opened stores co-located with service centres, we have completely redefined EV purchase & ownership experience, setting new benchmarks with our #SavingsWalaScooter campaign’’.
The company added that marking the massive expansion of the network, it has rolled out attractive offers with benefits ranging up to ₹25,000 on the S1 portfolio, exclusively available on December 25.
Further, customers can visit their nearest newly launched Ola Store and get a flat discount of up to ₹7,000 on S1 X portfolio. Besides, customers can avail additional benefits up to ₹18,000, including ₹5,000 on select credit card EMIs.