In the past five trading session the aggregate advancement in the Ola shares stood at 7.60 per cent or Rs 6.99. This took the overall value higher that it had been in the past few weeks.

Currently operating 800 stores, the company aims to open 3,200 stores in under three weeks, equating to 178 stores per day.

Ola Electric shares saw a notable recovery today, rebounding sharply from earlier losses. After falling around 5% in the morning, the stock surged by 6.68% around 2:30 PM. The turnaround was driven by the companys announcement of a massive expansion in its retail network.

Ola Electric shares surged 6.85 per cent on Monday to Rs 93.41 on the BSE after CEO Bhavish Aggarwal revealed ambitious plans to expand the company’s retail network. Aggarwal disclosed on X, formerly Twitter,

Ola Electric's ambitious expansion plans come at a time when the company is grappling with mounting concerns over service and product quality. Between September 2023 and August 2024, over 10,000 complaints were filed against the company with the National Consumer Helpline (NCH).

The update revealed that Ola Electric is set to increase its number of stores from 800 to 4,000 by the end of this month, with all of them scheduled to open on December 20.

The Bhavish Aggarwal-led company has been under growing scrutiny in recent months over issues with its servicing network and rising customer complaints, impacting its stock price and market capitalisation.

Ola Electric’s ambitious expansion comes at a critical juncture as the company navigates a fiercely competitive EV market. The planned opening of 4,000 stores in a single day on December 20, 2024, is set to significantly enhance customer accessibility and after-sales service across India.