Ola Electric To Roll Out Its Products On ONDC Next Week

Ola Electric products will be available on the Open Network for Digital Commerce (ONDC) from next week, cofounder Bhavish Aggarwal announced in an X post.

“All OlaElectric products will be available on ONDC from next week onwards,” Aggarwal said in the post.

Ola Electric’s present offerings include the Ola S1 X series, Ola S1 Pro and Ola S1 Air.

With this integration, Ola Electric will look to leverage ONDC’s infrastructure to expand its market reach and facilitate easier access to its products for consumers across India.

This comes days after Aggarwal declared ONDC “the UPI moment for e-commerce” at the recent Ola Sankalp 2024 event on August 15. 

Aggarwal has been bullish on ONDC and this is not the first time that he has partnered with the ONDC network. 

Notably, it first joined hands with the network in September last year for piloting a food delivery platform. This was followed by the company informing in January earlier this year that Ola is live on the network in the food category as a buyer app. 

The company then deepened its ties with ONDC a couple of months later when it partnered with the network to offer last-mile logistics services for all categories, including food delivery, grocery shopping, and pharmaceuticals.

This comes at the heart of Ola Electric’s debut in the bourse earlier this month on August 9. 

The much-hyped IPO of Ola Electric received a rather muted response on the listing day and made a flat debut on the bourses. The stock debuted at INR 75.99 per share as against the issue price of INR 76.

While the stock’s prices surged to double of its listing pieces, it seems to have lost momentum now.

Shares of Ola Electric closed 4.37% low at INR 120.27 on the BSE on Thursday, an increase of 58.2% from the listing price. 

On the financial front, Ola Electric saw its net loss widening to INR 347 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25), up 30% year-on-year. However, revenue from operations jumped 30% YoY to INR 1,644 Cr during the reporting period.