In a significant move to accelerate electric vehicle (EV) adoption, particularly in tier-2 and tier-3 cities, Ola Electric has launched its 'Network Partner Program'. This initiative is designed to expand the company's sales and service footprint across India, addressing the current low EV penetration in these areas.
Expanding the EV Footprint
Ola Electric, India’s largest pure-play EV company, has introduced the 'Network Partner Program' to drive EV adoption deeper into urban and rural markets. Under this program, the company has already onboarded 625 partners, with plans to increase this number to 1,000 ahead of the upcoming festive season. By the end of 2025, Ola Electric aims to have a robust network of 10,000 partners across sales and service.
Scalable and Cost-Effective Model
The 'Network Partner Program' is touted as a game-changer due to its fast-scaling and low-investment model. Unlike traditional dealership models in the automotive industry, this program requires limited capital investment from partners, allowing for quicker expansion. This approach will give Ola Electric a competitive edge in the market, enabling the company to rapidly increase its presence in areas where EV penetration is currently low.
Enhancing Sales and Service Experience
Currently, Ola Electric operates nearly 800 company-owned stores. With the 'Network Partner Program', the company will see its sales and service touch points increase to approximately 1,800 ahead of the festive season. This expansion is crucial in addressing the growing demand for EVs and improving the overall sales and after-sales experience for customers. Bhavish Aggarwal, Chairman and MD of Ola Electric, emphasized that "while company-owned stores will be the anchors of our sales and service network, this program will be instrumental in expanding the EV footprint deeper into urban and rural markets".
Supporting Upcoming Roadster Portfolio
The 'Network Partner Program' will also play a key role in the sales and service of Ola Electric's upcoming Roadster motorcycle series. This series, which includes the Roadster X, Roadster, and Roadster Pro, features segment-first technology and performance. By leveraging the network partner program, Ola Electric aims to deepen EV penetration in the motorcycle segment across India.
Market Impact and Investor Reaction
The launch of the 'Network Partner Program' has been well-received by investors. On September 26, Ola Electric shares on the Bombay Stock Exchange (BSE) were trading 0.6 percent higher at Rs 103.7 apiece, reflecting the market's optimism about the company's strategic move.
In conclusion, Ola Electric's 'Network Partner Program' is a strategic initiative that aligns with the company's mission to accelerate EV adoption and end the era of internal combustion engines (#EndICEAge). By expanding its sales and service network through a scalable and cost-effective model, Ola Electric is poised to lead the EV revolution in India, particularly in tier-2 and tier-3 cities.
