Ola Electric, led by Bhavish Aggarwal, has announced the launch of Ola Shakti, a portable device that can power various appliances and equipment, including air conditioners, refrigerators, and water pumps. This marks the company’s entry into the battery energy storage systems (BESS) market. Ola Shakti is powered by Ola’s own 4680 Bharat Cells, which are manufactured at its Gigafactory in Krishnagiri, Tamil Nadu. The company expects its annual Gigafactory consumption for the BESS market to scale up to 5 GWh in the next couple of years, potentially exceeding its automotive consumption.
The Ola Shakti system leverages the company’s existing cell technology, Gigafactory infrastructure, and pan-India distribution network, enabling rapid scaling without additional capital expenditure or research and development (R&D) investment. According to Bhavish Aggarwal, chairman and MD of Ola Electric, India does not face an energy shortage, but rather an energy storage opportunity, which Ola Shakti aims to address by providing energy independence.
The system has been launched in four configurations, with prices ranging from Rs 29,999 to Rs 1,59,999 for the first 10,000 units. Ola Shakti claims to offer industry-leading efficiency of up to 98%, zero running and maintenance costs, and instant changeover time. The system is also weatherproof, with IP67-rated batteries that can withstand dust, water, and monsoon conditions. Additionally, it features smart capabilities, including time-of-day charge or discharge scheduling, intelligent backup prioritization, remote diagnostics, and over-the-air software updates.
The launch of Ola Shakti is a significant step for Ola Electric, as it expands the company’s product portfolio beyond electric vehicles and into the energy storage market. With its existing infrastructure and technology, Ola Electric is well-positioned to scale up its BESS business and address the growing demand for energy storage solutions in India. The company’s entry into the BESS market is also expected to drive growth and innovation in the industry, with potential applications in various sectors, including residential, commercial, and agricultural. Overall, the launch of Ola Shakti represents a major milestone for Ola Electric and a significant step towards achieving energy independence in India.