Hyundai Motor Company’s portfolio EV-stock to keep under the radar as the company launches ‘Network Partner Program’, onboards over 600 partners to accelerate EV adoption PAN India
The company has a market cap of over Rs 45,000 crore with net sales of Rs 1,644 crore and net loss of Rs 347 crore in Q1FY25.
On Friday, shares of Hyundai Motor Company’s portfolio EV-stock gained 1.16 per cent to an intraday high of Rs 104.70 per share. The stock is up by 37.8 per cent from its 52-week low of Rs 75.99 per share.
The stock name is Ola Electric Mobility Ltd.
Ola Electric, India’s largest pure-play EV company, today announced the launch of its ‘Network Partner Program’. This program is aimed at taking the EV revolution further into tier-2 and tier-3 cities, including urban pockets where EV penetration still remains low. Under this program, the company has on-boarded 625 partners to expand its sales footprint across India, and Ola Electric further plans to have 1,000 partners ahead of the festive season this year. Additionally, the company announced to aggressively expand its network by onboarding 10,000 partners, across sales and service, by the end of 2025.
The ‘Network Partner Program’ will give Ola Electric an edge over its competitors as the Program requires limited investment from the partners and can be scaled up faster as compared to the traditional dealership model in the automotive industry. Ola Electric presently has nearly 800 company-owned stores, and with the ‘Network Partner Program’, will have nearly 1,800 sales and service touch points ahead of the upcoming festive season.
Through the program, Ola Electric will continue to onboard partners to drive EV adoption and provide seamless sales & after-sales experience across the country. The company will further leverage this program for sales and service of its upcoming Roadster portfolio, deepening EV penetration in the motorcycle segment across India.
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Ola Electric offers an expansive S1 portfolio with six offerings across attractive price points catering to customers with different range requirements. While the premium offerings S1 Pro and S1 Air are priced at Rs 1,34,999 and Rs 1,07,499, respectively, the mass market offerings include S1 X+ priced at Rs 89,999 and S1 X portfolio (2 kWh, 3 kWh, and 4 kWh) priced at Rs 74,999, Rs 87,999, and Rs 1,01,999, respectively. The company recently announced the launch of its Roadster motorcycle series, comprising Roadster X (2.5 kWh, 3.5 kWh, 4.5 kWh), Roadster (3.5 kWh, 4.5 kWh, 6 kWh), and Roadster Pro (8 kWh, 16 kWh). The motorcycles offer many segment-first technology and performance features, with their prices starting from Rs 74,999, Rs 1,04,999 and Rs 1,99,999, respectively.
About the Company
Ola Electric Mobility Limited is a leading electric vehicle (EV) manufacturer in India, specializing in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. Operations are centred around the Ola Futurefactory, where the production of EVs and critical components like battery packs, motors, and vehicle frames are undertaken. Ola’s R&D efforts span India, the UK, and the US, focusing on innovation in EV products and core components. Ola is also developing an extensive EV hub in Tamil Nadu, which includes the Ola Futurefactory and the upcoming Ola Gigafactory. This hub is supported by Ola’s Bengaluru-based Battery Innovation Centre (BIC), dedicated to advancing cell and battery technology. Ola maintains a direct-to-customer distribution network with more than 750 experience centres across India, as well as a robust online presence, making Ola Electric the largest company-owned network of automotive experience centres in the country
As of August 2024 shareholding pattern, Hyundai Motor Company own a 2.47 per cent stake in Ola Electric Mobility Ltd. The company has a market cap of over Rs 45,000 crore with net sales of Rs 1,644 crore and net loss of Rs 347 crore in Q1FY25. Investors should keep an eye on this EV stock.
Disclaimer: The article is for informational purposes only and not investment advice.