Shares of Ola Electric Mobility Ltd surged 5% on 16th October after the company announced its entry into the energy storage solutions sector with the launch of ‘Ola Shakti’.

Ola Electric is expanding beyond electric vehicles into the clean energy sector with the launch of ‘Ola Shakti’, a portable battery energy storage system (BESS).

The device can power home appliances, such as air conditioners, refrigerators, and water pumps. It is also suitable for small business setups. Ola Electric’s CEO, Bhavish Aggarwal, stated that the product offers a “last-mile, grid-complementing solution” for power backup, solar storage, voltage stability, and energy portability.

Ola Shakti comes in four models — 1.5 kWh, 3 kWh, 5.2 kWh, and 9.1 kWh. They are priced at Rs 29,999, Rs 55,999, Rs 1,19,999, and Rs 1,59,999, respectively, for the first 10,000 units. Pre-bookings are open at Rs 999, with deliveries expected by Makar Sankranti 2026.

The system offers instant power changeover, weatherproof batteries, and real-time monitoring via a connected app. It is capable of powering appliances for up to 1.5 hours at full load.

Ola Electric plans to utilise its existing gigafactory, 4680 cell technology, and nationwide store network to scale BESS operations. They aim for up to 5 GWh of annual consumption in the coming years without incurring additional capital expenditure.

At 3:30 PM, the shares of Ola Electric ended 5% higher at Rs 55.38 on NSE.

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