Ola Electric might be in the news for all the wrong reasons more often than not, credit has to be given to the Bengaluru-based EV manufacturer for taking some significant leap in the electric two-wheeler space. The company is currently the highest-selling electric two-wheeler in the country with a market share between 30 to 35 percent.
A major reason for this is its unique B2C business module which has enabled the company to make direct transactions with customers which has helped the company reach even rural demographics of the country. The EV manufacturing startup is gearing up to take another giant step to ramp up its presence across the country.
Ola Electric is on its way to increase from the current 800 stores to 4000 stores this month. More importantly, all new stores will be inaugurated on the same day on 20 December 2024. This means as many as 3,200 new Ola Electric stores will come into operation on the same day, the biggest ever retail expansion in India’s automotive market on a single day.
This development was confirmed by Bhavish Aggarwal, CEO & Co-founder, Ola Electric, on his personal X (formerly Twitter) account. Aggarwal also confirmed through a separate Tweet stating that all 4000 Ola Electric stores in the country will also be backed by service operations. Ola Electric has caught the eye of the storm with its problematic service issues plaguing the Ola customers.
Ola Electric sales decline
Ola Electric saw a significant decline in vehicle registrations in November, following a surge in October driven by the festive season. Data from the Vahan portal reveals a 33% month-on-month (MoM) drop in registrations, with November recording 27,746 units compared to over 40,000 units in October. With fewer registrations, the company’s market share dipped to 24 percent in November from 30 percent in October.
Complains regarding Ola Electric poor service quality have been highlighted all across the online realm. Recently an angry customer was seen destroying his Ola S1 electric scooter after it incurred a service bill of Rs 90,000. There are multiple occasions in the past couple of years where people have voiced complaints against the brand and unsatisfactory servicing.
