Facing heat over piling complaints, Ola Electric to launch 20 new products in next 2 years
Ola Electric, on Friday announced its ambitious plans to launch 20 new products across various two- and three-wheeler categories over the next two years, with at least one new release per quarter.
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The Bhavish Aggarwal-led company announced its Q2 FY25 performance on Friday, during which revenue rose 38.5 per cent year-over-year to Rs 1,240 crore.
Ola further aims to grow its store network to 2,000 by March 2025 from present 782 as on September 2024, with each store delivering 130 sales on average per quarter, roughly 2-3x of industry average.
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«Ola Electric would expand its company owned store (and colocated service infra) network to 2000 company owned stores by March 2025,» the company said in a media release.
Ola, which got listed in August this year, is currently trading below the issue price of Rs 76. The fall is mainly attributed to the rising consumer complaints, prompting the Central Consumer Protection Authority (CCPA) to issue a notice. Moreover, a war erupted on X when comedian Kunal Kamra flagged rising complaints by Ola customers and CEO Bhavish Aggarwal later caught in the spot.
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