Bhavish Aggarwal’s big 'power' move has a lot to do with lithium-ion cells

Bhavish Aggarwal-led Ola Electric is developing lithium-ion prismatic cells for the company’s grid energy storage product, Mahashakti.

“We are also working on a prismatic cell, which will be out soon. We haven't yet released details of that,” Aggarwal said during the company’s Q4 FY26 earnings conference call.

Mahashakti, intended for grid storage applications, will be built on Ola Electric’s prismatic LFP platform, Aggarwal said.

Prismatic cells are housed in a rigid rectangular casing. Its flat, compact design allows cells to be packed closely together, improving space utilization by minimizing unused gaps between batteries.

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“We are right now in product development. We have had conversations with many platforms there. We have shared specs. People are excited about our product there. And more details will follow through the next couple of quarters,” he added.

Ola Electric currently manufactures cylindrical cells for automobiles and battery energy storage systems.

The Ola Electric founder said the company will not ramp up cell capacity beyond 6 GWh right now from a capital allocation perspective. “We will first grow into the 6 GWh capacity. But the industry demand in India is growing faster, so just to be able to lead the industry, we will expand capacity, especially around the prismatic cell capacity.

Today, our capacity is the cylindrical cell. We will expand capacities into the prismatic cell capacity but only when we raise capital at a subsidiary level. And that is in our plans for this financial year,” he explained.

Ola Electric’s cell gigafactory in Tamil Nadu currently has 2.5 GWh of operational capacity for cylindrical cells.
By the end of the September quarter, Aggarwal expects Ola’s cell gigafactory to produce more than 2 GWh of cells. “For the whole year, the allocation of capacity is 2 GWh to our in-house business, maybe 1+ GWh to external auto sales and the remaining is focused on Shakti and Mahashakti,” he said.

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Roadster accounts for 15% gross orders

Ola Electric’s Roadster motorbike accounted for about 15% of the automaker’s volumes in the March quarter.
Ola Electric, which led India’s electric two-wheeler market in FY25, fell to the fourth spot in FY26. The automaker’s monthly volumes fell drastically to less than 10,000 units from November 2025 to February 2026.

But Aggarwal is also hopeful that the company will gradually recover monthly volumes above 20,000 units.
The Ola Electric chairman and MD had acknowledged that service-related challenges impacted brand trust, leading to a decline in sales.

“I do expect just better stability on service and improved inventory availability will lead us to closer to that 20,000-22,000 number over the course of next quarter,” he said.

“I believe another couple of months, most likely June, July also, we will see a continuing rebound of our volumes. The rebound itself should get us to about 17,000-18,000 units a month,” Aggarwal added.