Ola CEO Bhavish Aggarwal Announces Opening of 4000 Electric Scooter Stores Nationwide, Service Woes to End?

Bhavish Aggarwal: Ola Electric is set to take a significant leap in the electric vehicle market with the announcement of opening 4,000 retail stores across India. This massive expansion plan is poised to make Ola's electric scooters even more accessible to customers in every corner of the country, from metropolitan cities to rural tehsils. The move represents one of the largest expansions of electric scooter retail stores in India. In a post on X, Ola CEO Bhavish Aggarwal expressed his excitement, saying, “Super excited as we take the #SavingsWalaScooter to every city, town and tehsil! FOUR THOUSAND Ola Stores are opening across the country very very soon.”

Ola’s Major Expansion of Electric Scooter Retail Chain

Super excited as we take the #SavingsWalaScooter to every city, town and tehsil!

FOUR THOUSAND Ola Stores are opening across the country very very soon 🥳#4KOlaStores pic.twitter.com/0PJhyn9eur

— Bhavish Aggarwal (@bhash) December 17, 2024

With the introduction of 4,000 new stores, Ola Electric is gearing up to bring its flagship electric scooters, known as the #SavingsWalaScooter, to a wider audience. The announcement has captured the attention of netizens, with many expressing their excitement over the electric revolution that is set to unfold across India. One user shared, “From metros to tehsils, the #SavingsWalaScooter is about to become everyone’s scooter. 4,000 Ola Stores—Bhavish, this is how you electrify a nation!” Another said, “It’s a revolution on two wheels. Can’t wait to see the Ola Stores light up every corner of India!” While a third user mentioned, “Service center update? That’s what’s needed as 99% are suffering from it.”

Ola Electric’s Retail Network Growth

Taking the Electric revolution to the next level this month.

Going from 800 stores right now to 4000 stores this month itself. Goal to be as close to our customers as possible.

All stores opening together on 20th Dec across India. Probably the biggest single day store opening…

— Bhavish Aggarwal (@bhash) December 2, 2024

In an earlier statement, Bhavish Aggarwal announced that the 4000 stores would open simultaneously on December 20, 2024. He described it as “probably the biggest single-day store opening ever.” The move marks a significant leap from Ola Electric’s current 800 stores, reinforcing the company's commitment to being as accessible to customers as possible.

All stores have service capacity too.

— Bhavish Aggarwal (@bhash) December 2, 2024

Aggarwal also addressed concerns about customer service, stating that all new stores would include service capacity to resolve ongoing issues. This statement comes amidst scrutiny faced by Ola Electric regarding its service quality.

Challenges Faced by Ola Electric Amid Expansion

Between September 2023 and August 2024, over 10,000 complaints were filed against Ola Electric with the National Consumer Helpline. The company also received a show-cause notice from the Central Consumer Protection Authority (CCPA) for alleged violations of the Consumer Protection Act, 2019. Key issues cited included misleading advertisements, unfair business practices and poor customer service.

Ola Share Price Update

Ola Electric’s mobility share closed at 97.43 on December 17, 2024. After experiencing a steep fall in August 2024, where the share price dropped to 150, the Ola share now seems to be stabilising around 100, a key psychological level. While it remains to be seen how the launch of 3200 new stores impacts the share price, this move could signal a turnaround for the company.

Note: The information about the Ola share is for general purposes only and not intended as investment advice.