Indian electric vehicle (EV) maker Ola Electric has launched more than 3,200 new stores in a single day, co-located with service facilities, expanding its retail network to 4,000 stores nationwide. This strategic move aims to address customer service issues and increase the company's footprint, especially in smaller towns.

Ola Electric Mobility, led by Bhavish Aggarwal, is making headlines with its bold expansion of 4,000 stores across India, a fourfold increase aimed at boosting EV adoption beyond Tier-1 and Tier-2 cities.

The rally in Ola Electric share price came after the company announced that it has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network

Ola Electric shares rallied over 6% after the EV startup expanded its existing network of showrooms and service centres to 4,000 in India.

As Ola Electric stands by its commitment to boost large scale EV-adoption, the stock has rallied as much as 6 per cent in Thursday's session.

Besides launching 3200 new stores in a single day, Ola Electric announced multiple new updates such as benefits on S1 range, limited-edition S1 Pro Sona, and the updated MovOS 5.

Ola Electric has also opened priority registrations for the MoveOS 5 beta version, whose features include group navigation, live location sharing and road trip mode, which will be powered by Ola Maps.

The electric vehicle (EV) company also launched a limited 'Sona' edition of its S1 Pro in real 24-karat pure gold elements, a few of which Ola will be giving away as part of a promotional contest. ​The company also gave tours of the new facilities to select customers,

Ola Electric expands retail network to 4,000 stores, offers discounts on electric scooters, and introduces new operating system.

Shares of Ola Electric today surged 6.22 per cent to hit a high of Rs 99.90. They were last seen trading 1.78 per cent up at Rs 95.72. At this price, the stock has zoomed 30.41 per cent in a month.