Ola Electric share price jumps 5%, extends rally for second straight session; here is why

Electric two-wheeler maker Ola Electric Mobility extended its rally for the second consecutive session on Thursday, October 16, rising 5% to ₹55.20 apiece, following the company’s entry into the Battery Energy Storage System (BESS) segment. In a stock exchange filing today, the company announced the launch of its first residential battery energy storage system (BESS), Ola Shakti, designed for homes and capable of powering air conditioners, refrigerators, induction cookers, farm pumps and communication equipment. This launch marks the company’s strategic move beyond the automotive domain. Ola Electric Enters Residential Battery Storage Powered by Ola’s indigenous 4680 Bharat cells, the company said Ola Shakti is India’s first residential BESS that is fully designed, engineered and manufactured domestically. The launch is part of the company’s broader vision for the energy storage market in India, which it aims to scale from residential applications to grid-scale deployments. With its entry into the BESS market, Ola Electric expects its annual BESS capacity consumption to reach 5 GWh over the next few years. The company claims to be India’s first fully designed, engineered and manufactured residential BESS, indigenously developed with advanced 4680 Bharat cells and built with highly durable, efficient and proven automotive batteries. Bhavish Aggarwal, CMD, Ola Electric, said: “India is not facing an energy shortage; it is facing an opportunity for energy storage. With Ola Shakti, we are turning that opportunity into energy independence. We have built world-class battery and cell technology for electric mobility.” “Ola Shakti extends that innovation to homes, helping them intelligently store and use clean energy. Ola Shakti is a natural next step for us as we leverage our existing 4680 cell technology, Gigafactory production capabilities, and nationwide Ola network as a ready sales and distribution backbone – ensuring rapid scale without any incremental investment,” he said. added, as per Ola Shakti prices, he is further available. configurations: 1kW/1.5kWh at ₹29,999; 1kW/3kWh at ₹55,999; 3kW/5.2kWh at ₹119,999; and 6kW/9.1kWh at ₹159,999. According to the company’s regulatory filing, the product on the Ola Electric website as well as in Ola stores, with deliveries from Makar Sankranti 2026, with bookings starting at ₹999. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. We advise investors to check with certified experts before making any investment decisions.