Now Reading: Ola Electric unveils Shakti energy storage for homes, businesses, grid
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Ola Electric unveils Shakti energy storage for homes, businesses, grid
Ola Electric unveils Shakti energy storage for homes, businesses, grid
Ola Electric has moved beyond electric scooters into a full-fledged energy storage business, unveiling a three-tier Shakti portfolio for homes, commercial facilities and grid-scale applications. The range includes Shakti Gen2 for residential…
The Story in Brief
Ola Electric has moved beyond electric scooters into a full-fledged energy storage business, unveiling a three-tier Shakti portfolio for homes, commercial facilities and grid-scale applications. The range includes Shakti Gen2 for residential use, Shakti Rack for businesses and Mahashakti for up to 6.26 MWh containerised storage, all built around Ola's indigenous Lithium Iron Phosphate (LFP) cell technology.
Founder Bhavish Aggarwal has pitched the expansion as part of India's 'energy independence'. The parent company has approved Rs 2,000 crore investment into its EV and battery subsidiaries. Separately, Ola Electric reported a 45% year-on-year revenue decline to Rs 295 crore for Q1 FY27, though its net loss narrowed to Rs 336 crore.
The Indian Opinion
The chatter around Ola Electric's 'energy independence' pitch risks drowning out a harder question: can it execute in a second capital-intensive business while its EV sales slide? The 50,000 customer leads for Shakti sound impressive, but Ola's history of delivery delays in scooters should temper enthusiasm. Watch for actual shipment numbers and a timeline for Mahashakti commissioning, not just lead counts. Will Ola prove it can build hardware at scale without the margin pressure that squeezed its core business?
Source: economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
