Ola Electric shares hit 5% upper circuit on foray into energy storage biz with Ola Shakti – News Air Insight

Shares of pure-play two-wheeler EV major Ola Electric Mobility hit a 5% upper circuit of Rs 55.38 on Thursday, October 16, after the company announced its foray into the energy storage business with its new product Ola Shakti. With today’s gain, the stock has hit a 5% upper circuit for a second consecutive session and is up 10.23% in 2 days.

Ola Electric said it is expanding beyond mobility into the broader clean energy ecosystem with the introduction of Ola Shakti, a portable battery energy storage system (BESS). The device can power home appliances such as air conditioners and refrigerators, as well as water pumps and small business setups.

The company expects its annual Gigafactory consumption for the battery energy storage systems (BESS) market to scale up to 5 GWh and surpass its automotive consumption over the next few years. Powered by Ola’s indigenous 4680 Bharat Cells, Ola Shakti marks India’s first fully designed, engineered, and manufactured residential BESS. The system leverages Ola Electric’s advanced 4680 cell technology, Gigafactory infrastructure, and nationwide distribution network, enabling rapid scale-up with zero incremental capital expenditure or R&D costs, it said in a regulatory filing earlier today.

Ola Shakti has been launched in four battery configurations — 1.5 kWh, 3 kWh, 5.2 kWh, and 9.1 kWh — priced at Rs 29,999, Rs 55,999, Rs 1,19,999, and Rs 1,59,999 respectively, for the first 10,000 units. Reservations have opened at Rs 999, with deliveries scheduled to begin on Makar Sankranti 2026.

According to Ola, the device features instant power changeover, IP67-rated weatherproof batteries, and real-time monitoring via a connected app. It can power appliances for up to 1.5 hours at full load.

“India doesn’t face an energy shortage; it faces an energy storage opportunity. With Ola Shakti, we are turning that opportunity into energy independence. We have built world-class battery and cell technology for electric mobility. Ola Shakti extends that innovation to homes, helping them store and use clean energy intelligently,” Bhavish Aggarwal, CMD of Ola Electric said.Ola Electric Mobility stock is down 46% from its 52-week high of Rs 102.50 and about 65% below its all-time high of Rs 157.

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