Ola Electric will open 169 stores daily for 19 consecutive days- 800 will increase to 4000 showrooms

As of December 2, Ola Electric has 800 company-owned stores across the country. The electric vehicle company led by Bhavish Aggarwal has now embarked on a new mission. The company wants to expand the network more than four times in the next 19 days. It wants to open 4,000 stores in India by December 20, 2024.

In October, Ola Electric announced plans to take the number of stores to just 2,000 by March 2025. But in a new statement on December 2, the company said it is now “doubling down on the rollout plan” to accelerate EV adoption in large remote markets, which are the mainstay of two-wheeler sales.

Will the number double?

The company has not only doubled the number of stores, but also reduced the timeline by months. Ola Electric has repeatedly revealed its plan to “electrify” India. However, it is interesting to note that the announcement of opening about 169 stores in a day comes at a time when vehicle registrations show that the company’s market share has declined significantly in November. Despite this, the company remains the leader in the two-wheeler EV market. The company also said that it is leading the market despite having a fifth of the distribution network of its competitors.

Ola leading the market?

Despite Ola’s dominance in calendar year 2024, its market share has fluctuated. It fell from a high of 52% in April to 28.6% in September, but reached 31% in October due to festive discounts and has now come down to 25% as of November. TVS Motor Company’s market share grew from 12% in April to 23% in November, while Bajaj Auto was not far behind, with a 22% share last month, up from 12% in April; however, the November figures indicate a decline.