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Ola Electric shares surged over 6% following CEO Bhavish Aggarwal's announcement of a significant expansion plan. The company will increase its store count from 800 to 4,000 on December 20, aiming to enhance customer accessibility with all new stores also offering service capacity. This move is touted as potentially the largest single-day store opening in the industry.
Ola Electric shares surged 9% to an intraday high of Rs 79.4 following the launch of its affordable S1 Z and Gig range scooters, priced from Rs 39,000. CEO Bhavish Aggarwal highlighted the scooters' portable battery feature, which can function as a home inverter. Reservations are open, with deliveries expected to start in April 2025.
Ola has achieved a remarkable 30 percent sales growth in 2024, despite a sluggish electric two-wheeler market, which saw only a 6.3 percent increase. The company now holds a 39 percent share of the total electric two-wheeler sales, up from 32 percent in 2023, according to Vahan registration data.

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