Ola Electric shares gain 4% as EV maker rolls out first dealer-led stores

Shares of Ola Electric Mobility rose nearly 4% in Friday’s trade after the electric vehicle maker announced that the first wave of dealer-led stores had gone live, within a month of opening its sales and service network to partners.

The stock rose 3.94% to hit an intraday high of Rs 38.95 apiece on the NSE. At 2:57 pm, Ola Electric shares were trading at Rs 38.24, up 2.05% from the previous close of Rs 37.47.

However, the stock pared some of the gains and settled 1.97% higher at Rs 38.21.


At the closing price, Ola Electric had a market capitalisation of Rs 17,685.15 crore on the NSE.

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Ola Electric expands dealer-led retail network

The rise in the stock came after Ola Electric announced the launch of its first cohort of network-partner stores, with dealer-operated outlets going live across Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, Uttar Pradesh and Madhya Pradesh.

The stores will expand the company’s presence in key regional markets and cater to local demand for Ola scooters and motorcycles.

The inauguration marks a shift in Ola Electric’s retail strategy. On August 6, the company opened its sales and service network to dealer partners for the first time, five years after launching its first scooter through a fully company-owned model.

“Within a month of that announcement today, the first partner stores are open and serving customers, a testament to strong dealer interest in its product portfolio,” the company said in an exchange filing.

The transition to a partner-led distribution network will enable stronger local market penetration, improved accessibility and faster customer response across geographies, according to the company.

Manoj Murali, chief business officer at Ola Electric, said the company had built its early growth through company-owned stores to establish the brand, create EV awareness and build a customer base of more than 10 lakh electric two-wheeler riders.

“That foundation is now set. The establishment of a dealer-led network is a strategic move that takes our product ecosystem deeper across every corner of India,” Murali said.

The company said its S1Z range starts at Rs 79,999 and that the partner network will play a central role in expanding the adoption of electric vehicles. The first cohort of partner stores is now operational across cities and towns in Rajasthan, Tamil Nadu, Maharashtra, Bihar, Telangana, Uttar Pradesh and Madhya Pradesh. Ola Electric aims to build a footprint of more than 500 dealerships over the next couple of quarters. Its existing company-owned stores will transition into brand product experience centres.

About Ola Electric Mobility

Ola Electric Mobility is an electric vehicle manufacturer in India, with operations spanning technology and manufacturing for EVs and their components, including battery cells.

The company’s operations are centred around the Ola Futurefactory, where EVs and components such as battery packs, motors and vehicle frames are manufactured. Its research and development operations span India, the UK and the US, with a focus on EV products and core components.

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