Ola scooter can be sold by anyone with a shop, CEO Bhavish Aggarwal says
Ola Electric CEO Bhavish Aggarwal announced that anyone with a shop can now sell Ola Electric products, following their debut on ONDC network.
Ola Electric CEO Bhavish Aggarwal said that anyone with a shop can now sell an Ola Electric product. This comes after the company announced its debut on ONDC network. Bhavish Aggarwal had earlier said, "All @OlaElectric products will be available on ONDC from next week onwards. ONDC is the future of commerce."
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Ola now '800 odd' company owned stores, he said, adding, “Now instead of adding a few more stores or exclusive dealerships, anyone in India will be able to sell Ola scooters.”
Ola recently went public after it reported a jump in its Q1 revenue on a year-on-year basis. However, loss for the quarter widened to ₹347 crore, from a loss of ₹267 crore for the corresponding quarter of the previous year.
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The Bengaluru-based company recently launched three electric bikes as well and is planning to launch two more. The new Ola Roadster, Roadster X, and Roadster Pro have been priced very competitively, starting from ₹74,999.
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Ola Electric Mobility opened its IPO in August. Shares of the company declined 5% from ₹133.08 on August 16 to Rs. 126.21 on August 23 after listing on August 9 with an issue price of ₹76 per share. By August 23, Ola Electric surged to ₹126.21, a remarkable 66% gain since listing. This IPO’s impressive performance was reflected in its latest market capitalisation of ₹55,669 crore for the company.