Ola Electric Mobility Ltd. shares rose during early trade on Thursday as the company announced its entry into the lucrative Battery Energy Storage Systems (BESS) market.
The company launched 'Ola Shakti', a residential BESS solution. The system will scale from residential applications to grid-scale deployments, all anchored by the same 4680 Bharat Cell technology platform and produced at the Ola Gigafactory, a statement said.
With its entry into the BESS market, Ola Electric expects its annual consumption for BESS to scale up to 5 GWh in the next couple of years.
"India doesn't face an energy shortage; it faces an energy storage opportunity. With Ola Shakti, we are turning that opportunity into energy independence," CMD Bhavish Aggarwal said.
He said the product extends the company's innovation in battery and cell technology for electric mobility to homes.
India's BESS market is projected to grow from Rs 1 lakh crore to Rs 3 lakh crore by 2030, Ola said.
About 'Ola Shakti' Battery
Ola Shakti uses the advanced 4680 Bharat Cell for highly durable, efficient and tested automotive battery packs. The modular design allows for multi-directional stacking and easy scalability, while the compact form factor ensures simple home installation and easy servicing with accessible air filters, according to the company.
The system can power air conditioners, refrigerators, induction cookers, farm pumps, and communication equipment, with charging times as fast as 2 hours and a backup capacity of up to 1.5 hours on full load.
It features instant 0 ms changeover time, operates across a wide input voltage range of 120V-290V, protecting appliances from voltage fluctuations, and is fully weatherproof with IP67-rated batteries tested for dust, water, and monsoon conditions.
Additional features include Time of Day (ToD) charge and discharge scheduling, intelligent backup prioritisation, remote diagnostics, OTA (Over-the-Air) software updates, expansion capabilities, and online operation mode for continuous energy supply.
Ola Shakti will be available at introductory prices in four configurations:
1kW/1.5kWh at Rs 29,999
1kW/3kWh at Rs 55,999
3kW/5.2kWh at Rs 1,19,999
6kW/9.1kWh at Rs 1,59,999
The products can be bought on the Ola Electric website as well as Ola stores with a booking price of Rs 999. Deliveries will start on Makar Sankranti 2026.
Ola Electric Share Price Movement
Ola Electric share price advanced 4.8% intraday to Rs 55.3 apiece. The benchmark NSE Nifty 50 was up 0.6%. The relative strength index was at 68.
The stock has fallen 38% on a year-to-date basis.
Four out of the seven analysts tracking Ola Electric have a 'buy' rating on the stock, one recommends a 'hold' and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets is Rs 48.43, which implies a potential downside of 12%.
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