CEO Bhavish Aggarwal Announces Ola Electric’s First Non-Vehicle Product, ‘Ola Shakti’

Ola Electric said on Wednesday it will launch its first non-vehicle product, branded Ola Shakti, in a social-media premiere on Oct. 16, 2025, stepping into the energy segment as it looks to diversify beyond electric scooters.

The company has described the new offering as “intelligent, portable and personal” power, language that market observers read as signaling a move into battery energy storage systems (BESS) or related smart-power solutions tailored to consumers and small businesses.

Manufacturing Edge

Analysts point to Ola’s Tamil Nadu gigafactory and its in-house 4680 Bharat Cell programme as competitive advantages that could shorten product development and scale-up cycles. With an existing 5 GWh cell production footprint and a nationwide retail network built for scooters, Ola could reuse parts of its manufacturing and distribution infrastructure to roll out home or portable storage solutions without wholly new plant investments.

If Ola indeed launches a consumer or small-business BESS, it would target growing demand for reliable, on-site power amid rising clean-energy adoption and government pushes for local clean-tech manufacturing.

However, success will depend on product cost, cycle life, safety certifications, and the company’s ability to match incumbents on reliability and after-sales support, crucial factors in energy-storage purchases.

Timing and Market Reaction

Timing the reveal around Diwali positions the product for high seasonal visibility and reflects Ola’s strategy to leverage its in-house battery capability and retail reach to enter a multibillion-dollar domestic energy-storage opportunity.

The announcement, teased by founder Bhavish Aggarwal, sparked a positive market reaction. Ola Electric Mobility’s stock hit the upper circuit on Oct. 15 after the teaser and the formal naming of the product.

Investors reacted briskly to the teaser: shares rose about 5% to the day’s upper circuit on Oct. 15, trading near ₹52.75 at one point, after recent volatility that saw the stock fall nearly 39% year-to-date before staging a partial recovery from a July low.

Opportunity and Risks

The launch comes against a backdrop of corporate-level shifts: major investor SoftBank trimmed its stake in Ola earlier this year, reducing exposure amid broader portfolio adjustments. For Ola, branching into energy would be a strategic hedge against increased competition in the EV scooter market and a way to monetise battery expertise across adjacent use cases.

Short-term indicators to follow include the full product specification and pricing that Ola releases at the Oct. 16 premiere, confirmation of whether the offering is a home BESS, portable battery, or integrated smart-power system, and any launch partners or pilot customers.