Ola Electric to launch 20 new products in next 2 years, aims for 2,000 outlets by FY25

"We have the broadest portfolio in EV scooters with 6 models across a price range of ₹75,000 to ₹150,000. We are now focusing on entering other 2/3W categories as shown below," the companys said.

"Over the next 2 years, we will be launching 20 products, with at least 1 new product launch every quarter," it added.

Ola Electric launched its Roadster motorcycle series at its annual event, Sankalp, in August, with first deliveries expected by March 2025.

"We expect a faster EV penetration journey in motorcycles compared to scooters since the infra and awareness for EVs is already built," Ola Electric said.

The company has also accelerated the launch of its S1 Gen 3 scooter series to January 2025, which it believes will further enhance Ola's "product proposition to the customer, differentiation from competitor products, and also improve cost structure."

To support this growth, Ola is expanding its distribution and service network. As of September 2024, it operated 782 company-owned stores, each delivering an average of 130 sales per quarter. The company plans to increase its network to 2,000 outlets by March 2025

Amid concerns over its after-sales service, Ola acknowledged the service capacity challenges but insisted that it has resolved almost all of this backlog.

"Over the last couple of months, we faced a capacity issue at our service centres because our service capacity growth lagged our sales volume growth over the 2-3 quarters," it said.

The company also claimed that 80% of service requests are being serviced in "T+1 days".

Ola Electric Mobility on Friday reported narrowing of consolidated net loss at Rs 495 crore for the second quarter ended September 30, 2024 aided by higher sales.

During the quarter, sales increased by 74 per cent year-on-year to 98,619 units as against 56,813 units in the same period last year.

The Bengaluru-headquartered firm had reported a net loss of Rs 524 crore in July-September FY24. Revenue from operations rose to Rs 1,214 crore from Rs 873 crore, Ola Electric Mobility said in a regulatory filing.

Shares of the company ended 2.47 per cent down at ₹72.74 apiece on BSE.