In order to enhance the adoption of electric vehicles (EVs) in tier-2 and tier-3 cities, Ola Electric has launched its ‘Network Partner Programme’ as the EV penetration is currently low in such cities.
Ola Electric Aims to Expand Partner Network for Enhanced EV Reach
The company is striving to increase the number of partners from 625 to 1000 before the commencement of festive season. By the end of 2025, the company aims to recruit 10,000 partners for sales and service by the end of 2025.
Since there is minimal investment from the partners, this programme will provide a competitive advantage and shall allow for quicker scaling compared to traditional automotive dealership models.
Operating in nearly 800 company-owned stores, Ola Electric with its partner programme aims to rach the total number of sales and service points is expected to reach around 1,800 before the festive period.
The chairman and MD of Ola Electric, Bhavish Aggarwal, emphasized that while company-owned stores will anchor the sales and service network, this programme will significantly deepen their EV presence in both urban and rural areas.
Surge in Customer Complaints, Yet Stock Prices Soar Post-IPO
Recently, Ola Electric was in news due to the rising number of complaints which went nearly to 80000 every month. In order to tackle the rising number of service complaints, the company has formed a dedicated service team.
With 80,000 customer complaints each month, the number spiked to 6,000 to 7,000 on busy days. This situation further exacerbated the service centres and long wait times. This has led to rising customer dissatisfaction, which was particularly highlighted in the case where a frustrated customer set fire to an Ola showroom after unresolved issues with their electric bike.
However, despite these issues, the company has experienced a notable surge in stock prices, rising 10% to hit the upper circuit limit. Following its initial public offering (IPO) valued at INR 6,145 crore, which saw 4.27 times subscription, the stock has risen by 55.39% since listing on August 9, 2024.
A key contributor and player in India’s electric vehicle market, Ola Electric is focusing on improving customer service while navigating the industry’s challenges and opportunity.
