Ola Electric expands service network, inaugurates its 450th service centre

Ola Electric today announced the expansion of its service network with the inauguration of its 450th service centre in Phaphamau, Prayagraj, in line with its plans to further expand its D2C sales and service network. The company is on-track of fulfilling its promise of expanding its service network from 400 to 600 by the end of April.

Ola aims to expand its service centers footprint across the country to cater to growing after-sales service needs of its customers. To celebrate this milestone, Ola Electric also organised an all day free scooter health check-up for all Ola S1 owners at the service centre in Prayagraj.

Ola Electric now has 450 dedicated service centres nationwide to prioritize customers’ needs to offer after sales service.

Ola Electric also launched an 8 year/80,000 km extended battery warranty for the entire range of products at no extra cost, a move Ola Electric believes addresses one of the barriers for EV adoption by extending the lifespan of the vehicles. Besides, the company announced plans to ramp up its fast-charging network. The company also introduced a portable fast charger accessory of 3KW and is available for purchase at INR 29,999.

Disclaimer:

OLA ELECTRIC MOBILITY LIMITED (“Company”) is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its equity shares and has filed a draft red herring prospectus dated December 22, 2023 (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of SEBI at www.sebi.gov.in, stock exchanges i.e., BSE at www.bseindia.com and NSE at www.nseindia.com, respectively and is also available on the website of our Company at www.olaelectric.com and websites of the book running lead managers, i.e. Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com, Citigroup Global Markets India Private Limited at www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, BofA Securities India Limited at https://business.bofa.com/bofas-india, Goldman Sachs (India) Securities Private Limited at www.goldmansachs.com, Axis Capital Limited at www.axiscapital.co.in, ICICI Securities Limited at www.icicisecurities.com, SBI Capital Markets Limited at wwww.sbicaps.com and BOB Capital Markets Limited at www.bobcaps.in, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see the section titled “Risk Factors” on page 28 of the DRHP. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.

The equity shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction. The equity shares have not been and will not be registered under the US Securities Act of 1933 (“U.S. Securities Act”) or any state securities laws in the United States and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable United States state securities laws.