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Ola Electric scales up Hyperservice to open source its spares, service business
According to Ola Electric, ‘Hyperservice’ will strengthen the company's unit economics, “expanding its high-margin spare parts and accessories vertical”.
Ola Electric Mobility Ltd. has scaled up its so-called Hyperservice initiative to open source its proprietary service infrastructure and technology, a move the company says will further strengthen its unit economics.
To start with, the electric two-wheeler maker will start selling spare parts on its app as well as its website. Subsequently, diagnostic tools and technician certification programs will be made available online so that local mechanics and fleet operators can learn how to fix the company's electric vehicles.
“We have built our service ecosystem from first principles, using technology to make it fast, transparent, and efficient. With Hyperservice scale-up, we are opening up this capability to everyone,” Bhavish Aggarwal, chairman and managing director at Ola Electric, said in an exchange filing on Monday.
“Every garage, fleet and customer can now access the same high-quality tools and systems that power Ola's own network. Genuine parts, full transparency, and no middlemen. This is true service freedom, only possible in a D2C (direct to customer) model.”
Ola Electric operates its stores and service centres in India, in a departure from the industry norm of dealership model.
Unit Economics
According to Ola Electric, ‘Hyperservice’ will strengthen the company's unit economics, “expanding its high-margin spare parts and accessories vertical—a segment that scales organically with the company's rapidly growing customer base”.
To be sure, Ola Electric does not break out “spares and accessories” as its own segment in its quarterly financials. It's clubbed within automotive segment, which includes sale of automobiles and “related services”.
In Q1 FY26, Ola Electric had an automotive revenue of ₹828 crore with an implied gross margin of 25.6%, according to the financials on its website. That compares with ₹1,464-crore revenue and an implied gross margin of 8.4% in Q1 FY25. The company has yet to turn a profit, operationally or otherwise.
On Monday, Ola Electric shares fell 2.08% to ₹51.75 apiece on the BSE even as the benchmark BSE Sensex ended the day 0.67% higher at 84,778.84 points.
