Ola Electric unveils Shakti portfolio to enter energy storage market

Ola Electric has expanded beyond scooters into energy storage, unveiling a three-tier Shakti portfolio. The Economic Times reports the range spans homes, commercial facilities and grid-scale applications, from 4.6 kWh residential systems to a 6.26 MWh containerised unit, built around its indigenous Lithium Iron Phosphate (LFP) cell technology. Inc42 adds the residential Shakti Gen 2 is priced at Rs 99,000 for the 3 kW variant and about Rs 1.75 lakh for the 6 kW, with deliveries starting November 2026.

The new line-up includes Shakti Rack for businesses and Mahashakti for utility-scale storage, with commercial products expected by March 2027. Inc42 notes the company sees this as a way to boost revenue and Gigafactory utilisation, as its EV market share fell to 8.4% in Q1 FY27. The Economic Times says Ola has pitched the portfolio as part of its push for India's "energy independence," a phrase founder Bhavish Aggarwal used earlier.

Financially, Ola Electric reported Q1 FY27 revenue of Rs 455 crore, down 45% year-on-year, while net loss narrowed to Rs 336 crore, per Inc42. The Economic Times cites a Rs 2,000 crore parent-company investment approved in May for its EV and battery subsidiaries. The company says Shakti has generated over 50,000 customer leads.