Ola Electric share price: Ola Electric Mobility shares came under pressure on Wednesday, September 2, falling to an intraday low of Rs 38.92, down 3.92 per cent from the previous close of Rs 40.51. The decline came after the stock had jumped over 8 per cent on August 31, with investor sentiment remaining buoyant following the launch of the company’s new mass-market S1Z scooter range.
The stock’s recent movement came amid a series of developments around Ola Electric, including the launch of the S1Z range and a Rs 95.8-crore incentive sanctioned under the government’s Production Linked Incentive scheme.
Meanwhile, Ola Electric’s planned shift to a dealer-led sales and service network gained further attention after Chairman and Managing Director Bhavish Aggarwal said the S1Z would be the first new product to enter the company’s dealership network.
Aggarwal had said on August 28 that the S1Z would be the first new product to go into the company’s dealership network. On September 1, he reiterated the rollout, posting: “First set of dealer stores going live on Janmashtami!”
Ola Electric had announced that it was opening its sales and service network to dealer partners across India, marking a structural shift in the company’s go-to-market approach, PTI reported in August.
The move came five years after the electric two-wheeler maker launched its first electric scooters. Ola Electric had initially built its growth through company-owned stores, using them to create awareness around electric vehicles, establish the brand and build a customer base of more than 10 lakh EV two-wheeler riders.
As the EV industry matured and consumer acceptance increased, the company was evolving its retail model, it had said.
Over the following months, Ola Electric’s company-owned stores were expected to transition towards brand and product experience, while dealer partners were set to become the backbone of local sales, service and expansion across the country.
The move followed a month of on-ground engagement with dealers nationwide. Ola Electric said the response had been strong, with dealers expressing confidence that the company’s product portfolio, combined with their local market expertise, could accelerate sales as well as EV adoption in India.
“This is a big shift in how we go to market, and one that reflects where the EV industry in India is headed. We built our own stores first because trust in EVs had to be earned store by store, city by city. That phase built the foundation,” Aggarwal had said.
“As the category matures, our job is to bring EVs to every corner of the country, and dealer partners understand their local markets in ways no company-owned network can replicate at that scale,” he had added.
For dealer partners, Ola Electric had offered the strength of its brand built over five years, a recurring service opportunity from its installed base of more than 10 lakh customers, and a product portfolio spanning scooters, motorcycles and energy products, including ‘Ola Shakti’.
The company had also said its dealer economics model was designed to offer strong returns to partners.
Ola Electric had expected the programme to achieve meaningful on-ground scale by Diwali 2026.
As part of the transition, BVR Subbu had rejoined Ola Electric as Senior Advisor to support execution. Subbu, the former President of Hyundai Motors India, had previously served on Ola Electric’s board and had been a mentor to Aggarwal.
