Ola Electric Enters Battery Energy Storage System Market With ‘Ola Shakti’

Diversifying beyond its EV business, Ola Electric unveiled its first residential battery energy storage system (BESS) solution, Ola Shakti, today.

Ola Electric said that Ola Shakti will use its proprietary 4680 Bharat Cell battery technology platform produced at its Gigafactory in Tamil Nadu to provide energy solutions for homes, small businesses, and enterprises.

For context, a BESS platform stores electricity in batteries for future use.

“Ola Shakti comes with Time of Day (ToD) charge/ discharge scheduling, intelligent backup prioritisation, remote diagnostics, OTA (Over-the-Air) software updates, expansion capabilities, and online operation mode for continuous energy supply,” Ola Electric said in a statement.

The company said that reservations for Ola Shakti will begin today at a booking price of INR 999 via Ola Electric’s website and stores. Deliveries are set to commence on Makar Sankranti 2026.

Ola Shakti will be available at introductory prices in four configurations, like 1kW/1.5kWh at INR 29,999, 1kW/3kWh at INR 55,999, 3kW/5.2kWh at INR 1,19,999 and 6kW/9.1kWh at INR 1,59,999. 

The system can power air conditioners, refrigerators, induction cookers, farm pumps, and communication equipment, with charging times as fast as 2 hours and backup capacity of up to 1.5 hours on full load, the company said.

Talking about the launch, Ola Electric CMD Bhavish Aggarwal said, “The demand for home inverters or home DGs (diesel generators) today is beyond INR 10,000 Cr… So, we expect the home energy market to grow significantly…” 

He added that Ola Electric will also look to sell Ola Shakti on quick commerce platforms.

Shares of Ola Electric surged nearly 5% post the announcement and were locked in at the upper circuit at INR 55.20 on the BSE at 11:13 IST.

Ola Electric Looks To Diversify Revenue

With the launch of Ola Shakti, the EV maker is looking to shore up its revenue and increase the utilisation of its Gigafactory. Earlier this year, Ola Electric said that it would start integrating the 4680 Bharat Cell in its EVs. Ola Shakti will help the company further increase the usage of its in-house manufactured cells.

Notably, Ola Electric has reduced the capacity target for its Gigafactory to 5 GWh from 20 GWh earlier. “Given that the EV market has evolved slower in recent quarters, we don’t foresee the need to expand beyond 5 GWh till FY29,” the company said in its Q1 shareholders’ letter.

Ola Electric then said it expects to fully utilise 1.4 GWh capacity by the end of FY26. It plans to install the remaining capacity to get to 5 GWh by the end of the ongoing fiscal year and scale consumption to 5 GWh through FY27.

Subsequently, the company also got shareholders’ nod for alteration in use of IPO proceeds and reduce the spending on the cell manufacturing plant.

Meanwhile, on the EV front, Ola Electric slipped behind Ather Energy in terms of registrations in September. The monthly registrations for Ola Electric stood at 13,401 units last month. 

In Q1 FY26, Ola Electric’s loss climbed to INR 428 Cr from INR 347 Cr in the year-ago quarter, while its revenue declined 50% YoY to INR 828 Cr.