Ola Electric, the electric mobility unicorn led by Bhavish Agarwal, has achieved a significant milestone by opening its 600th experience centre. The company launched its experience centres in September and reached this milestone in just eight months. Now, Ola Electric has set its sights on scaling this number to 1,000.
The Ola Experience Centres serve as a one-stop destination for individuals seeking information about purchasing Ola scooters, vehicle financing, test rides, and various service support options. In a recent blog post, the company emphasized the importance of these centres in providing a comprehensive customer experience.
This achievement comes shortly after reports emerged that Ola Electric was finalizing a funding round of $300 million, valuing the company at $6 billion. The fresh capital infusion will enable Ola Electric to increase its electric two-wheeler production capacity from 0.5 million to 2 million units per year. Additionally, the company plans to establish an advanced cell chemistry battery plant.
Earlier this year, Ola Electric introduced the “Ola Care Subscription” program, providing after-sales service to its EV owners. The subscription plan, available in two tiers—Ola Care priced at INR 1,999 per year and Ola Care+ at INR 2,999 per year—aims to enhance customer satisfaction.
Looking ahead, Ola Electric is preparing for an early listing on the stock market next year. While the exact valuation has yet to be determined, CEO Bhavish Agarwal has expressed his ambition to achieve a market capitalization of $10 billion.
Despite facing challenges such as product quality issues, e-scooter fires, service problems, and controversies surrounding the misappropriation of FAME-II subsidies, Ola Electric maintains its leadership in the electric two-wheeler market. Vehicle registration data from Vahan indicates that Ola Electric recorded 21,957 units in April, surpassing the 21,404 units registered in March 2023.
