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

Ola Electric Mobility Ltd.'s shares rose for a second consecutive session to hit their highest in two months. The stock surged nearly 9% on Tuesday. The stock saw an upswing on Monday as well after Ola CEO Bhavish Aggarwal shared his expansion plan on social media platform 'X'.

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).

Ola Electric sold 29,196 units in November compared to 41,775 units in October, resulting in a decline in its market share to 24.7%. This is a marked decline from its market share of 31.2% in August when the company listed on Indian stock exchanges.

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.

Shares of Ola Electric Mobility rose over 9% on Tuesday, reaching a high of Rs 101.78 on the NSE. In the past week, the stock has surged more than 50%, recovering from its all-time low of Rs 66.60.

Over the past five trading sessions, Ola Electric shares have gained nearly 28%, recovering sharply from their 52-week low of Rs 66.60.