Ola Electric Mobility announced its #SavingsWalaScooter campaign, a transformative initiative to bring EVs closer to every Indian household. As a part of the campaign, Ola Electric is set to expand its sales and service network to 4000 on 25 December, marking one of the fastest rollouts of EV distribution globally.With 3200+ new stores complementing its existing footprint, Ola Electric is bringing its portfolio of affordable, high-quality EVs closer to consumers across metros, Tier-2, and Tier-3 towns. Co-located with service facilities, these stores will ensure customers receive best-in-class sales and after-sales support, strengthening the #SavingsWalaScooter revolution for a billion Indians.The #SavingsWalaScooter campaign aligns with Ola Electric`s commitment to democratising electric mobility and transitioning India decisively away from ICE vehicles. By leveraging its direct-to-consumer (D2C) model, Ola is ensuring that EV ownership becomes a reality for every household, breaking barriers to adoption and offering relief from rising petrol prices and high cost of ownership of ICE vehicles.Ola Electric`s rapidly expanding network is powered by its innovative product portfolio, including the recently launched Gig and S1 Z scooter ranges, which offer durable, reliable, and flexible solutions for personal and commercial use cases. With introductory prices starting at ₹39,999 and options tailored for rural, semi-urban, and urban markets, these scooters make EVs more accessible than ever. Additionally, Ola`s S1 portfolio and the upcoming Roadster series cater to a wide range of customers, reinforcing its position as India`s EV market leader.Powered by Capital Market - Live News

Ola Electric announced plans for a four-fold expansion of its company-owned store network to 4,000 by 20 December 2024. With over 3,200 new stores set to open, Ola Electric will operate India`s largest EV distribution network, covering all the country`s pin codes. It is one of the world`s most significant expansions of the EV footprint bolstering access, growth and adoption in the country. All the newly launched stores will be co-located with service facilities, strengthening the company`s service network all across the country.Regarding the expansion, Bhavish Aggarwal, Chairman & Managing Director of Ola Electric, said: While India is swiftly moving towards electric mobility, Ola Electric`s massive network expansion will be a pivotal moment in the country`s journey towards #EndICEAge. With our wide D2C network and the touchpoints under our Network Partner Programme, we will cover the entire country beyond tier-I and tier-2 cities. It will enable our best-in-class product offerings to democratise electric mobility, adding buoyancy to t domestic EV economy.Powered by Capital Market - Live News

Ola Electric has announced the launch of its Gig and S1 Z range of scooters, designed to unlock the full potential of electric mobility for the masses. The new range of scooters comprises Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+ available at an introductory pricing of Rs 39,999 (ex-showroom), Rs 49,999 (ex-showroom), Rs 59,999 (ex-showroom), and Rs 64,999 (ex-showroom), respectively. The reservations for both the Gig and S1 Z series are open at just Rs 499 starting today. The new range of scooters offers durable, reliable, affordable, and flexible solutions, including removable batteries, fulfilling personal and commercial use cases of rural, semi-urban, and urban customers.With the new range of products, coupled with the existing portfolio, Ola Electric aims to further revolutionise access to EVs with a wide range of affordable offerings across categories, catering broad spectrum of customers, thereby democratising electric mobility for all. Deliveries of the Ola Gig and Ola S1 Z series will begin starting April 2025, and May 2025, respectively. Powered by Capital Market - Live News

Net Loss of Ola Electric Mobility reported to Rs 495.00 crore in the quarter ended September 2024 as against net loss of Rs 524.00 crore during the previous quarter ended September 2023. Sales rose 39.06% to Rs 1214.00 crore in the quarter ended September 2024 as against Rs 873.00 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1214.00873.00 39 OPM %-31.22-49.83 - PBDT-363.00-432.00 16 PBT-495.00-524.00 6 NP-495.00-524.00 6 Powered by Capital Market - Live News

Ola Electric Mobility will hold a meeting of the Board of Directors of the Company on 8 November 2024Powered by Capital Market - Live News