Bhavish Aggarwal-led Ola Electric to launch battery energy storage platform Mahashakti on August 15

Bhavish Aggarwal-led Ola Electric Mobility Ltd will launch its utility-scale battery storage platform, Mahashakti, on August 15, marking the company's expansion beyond electric vehicle batteries into India's fast-growing battery energy storage market. Mahashakti has been designed and manufactured in India to serve applications including renewable energy integration, industrial power, grid infrastructure and data centres, the company said in its shareholders' letter.

The Mahashakti launch marks a significant step in Ola's strategy to diversify its in-house cell business beyond electric mobility and tap rising demand for battery storage as India accelerates its clean energy transition.

Mahashakti builds on Ola's broader energy storage ambitions alongside Shakti, its platform for residential and commercial backup power. While Shakti is aimed at homes and small businesses, Mahashakti is targeted at commercial, industrial and utility-scale projects, enabling the company to address demand across the energy storage value chain.

The launch comes as Ola scales up its cell manufacturing operations. The company said its Gigafactory will be operational at a capacity of 6 GWh by September, providing enough production capacity to support both its electric vehicle business and external customers across energy storage.

India's energy storage market is expected to grow rapidly over the coming decade, driven by increasing renewable energy capacity and the need to maintain grid reliability. Ola cited estimates that the country will require more than 400 GWh of energy storage by 2032, positioning battery storage as a major long-term growth opportunity for domestic manufacturers.

Ahead of the Mahashakti launch, Ola also announced a memorandum of understanding with Axis Energy for the potential deployment of up to 20 GWh of battery storage by 2032. The company described the agreement as one of the largest announced domestic deployments of indigenous battery storage technology.

Under the proposed partnership, Mahashakti systems would be deployed across Axis Energy's renewable energy projects, providing Ola with an anchor customer as it enters the utility-scale storage market. The agreement is expected to support battery storage for renewable energy integration and industrial applications, although the companies did not disclose financial details.

The storage business forms part of Ola's wider strategy to commercialise its in-house cell technology. The company said it has moved from developing and validating battery cells to deploying them in vehicles while simultaneously expanding into new markets.

Its 4680 nickel manganese cobalt (NMC) Bharat Cell is already deployed across its performance electric two-wheeler portfolio. Ola also said its 46100 lithium iron phosphate (LFP) cell has received Bureau of Indian Standards (BIS) certification and is ready for integration into electric scooters with battery packs below 4 kWh, where lower battery costs could improve affordability for mass-market models.

Beyond electric vehicles and stationary energy storage, Ola said it has signed memoranda of understanding covering defence and unmanned aerial vehicle applications, near-space constellation platforms and other industrial uses, broadening potential demand for its domestically manufactured battery cells.