New Delhi, August 7(APAC Media): Ola Electric is moving beyond EVs into large-scale energy storage.
The company has signed an MoU with renewable energy developer Axis Energy to explore the potential deployment of up to 20 GWh of battery energy storage systems (BESS) by 2032. The agreement is the first large-scale partnership for Ola Electric’s upcoming Mahashakti energy storage platform.
The MoU does not represent a confirmed 20 GWh order. Instead, it sets out the potential scale of deployment that the two companies could pursue. Ola Electric said the deployment could reach up to 5 GWh annually from 2028.
Mahashakti is expected to launch on August 15, 2026, and is being developed for commercial, industrial and utility-scale energy storage applications.
Axis Energy has secured grid approvals for renewable energy projects with a combined capacity of more than 3,750 MW across Andhra Pradesh and Rajasthan. It also has a reported project pipeline of around 3,500 MW.
The Central Electricity Authority has estimated that India could need 73.93 GW of energy storage capacity and 411.4 GWh of storage by 2031-32. Of this, BESS is expected to account for 47.24 GW and 236.22 GWh.
For Axis Energy, battery storage could support renewable projects by helping manage fluctuations in solar and wind generation. For Ola Electric, the agreement gives its Mahashakti platform a potential early customer base before the product enters the wider market.
Ola Electric has been developing Mahashakti around prismatic LFP battery technology for large-format BESS applications. The company previously said the platform was being developed for grid storage, while its existing Shakti platform focuses on smaller commercial and backup applications.
The company has also been expanding its battery-cell manufacturing capabilities as part of its broader energy strategy. However, the Axis Energy MoU is still at the partnership stage, and actual deployments will depend on project requirements, approvals and subsequent agreements.
The development marks a shift in Ola Electric’s business beyond electric two-wheelers, with battery manufacturing and energy storage becoming additional areas of focus.
