Ola Electric Expands Into Utility-Scale Energy Storage; Signs First MoU with Axis Energy
The partnership is Ola Electric’s first large-scale storage deal and supports India’s need for 400+ GWh of capacity by 2032.
- On Wednesday, Ola Electric Mobility Ltd announced a Memorandum of Understanding with Axis Energy to deploy up to 20 GWh of battery energy storage systems by 2032.
- The agreement supports the upcoming August 15 launch of Ola Mahashakti, an India-manufactured BESS platform designed for commercial, industrial and utility-scale applications.
- Electric Chairman and Managing Director Bhavish Aggarwal said, "India will need energy storage at a massive scale," citing the platform's vertically integrated design for safety and cost control.
- Axis Energy Ventures Chairman and Managing Director Ravi Kumar Reddy Kataru said battery storage is "quintessential to enabling reliable, round-the-clock clean power" as the company expands its renewable portfolio.
- The Central Electricity Authority estimates India will require 400+ GWh of storage by 2032, positioning the Ola-Axis partnership as critical to meeting unprecedented energy transition demand.
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Ola Electric Mobility share price ascends 10% after this update. Details here
Ola Electric's share price surged over 10% after signing an MoU with Axis Energy to develop 20 GWh of battery energy storage systems by 2032. The partnership demonstrates the demand for Ola Mahashakti, an energy storage platform expected to launch on August 15.
The Economic Times
The Hindu Business LineOla Electric expands into utility-scale energy storage; signs first MoU with Axis Energy
Ola Electric has signed an MoU with Axis Energy to explore deploying up to 20 GWh of battery energy storage systems by 2032. The partnership marks the first large-scale commercial agreement for Ola's upcoming Mahashakti energy storage platform, which is set to launch on August 15, and aims to support India's growing demand for grid-scale energy storage.
Ola Electric Mobility shares rally over 7%. What's boosting investor sentiment?
Ola Electric shares surged after the company signed an MoU with Axis Energy to deploy up to 20 GWh of battery energy storage systems by 2032. The partnership is the first major tie-up for Ola Mahashakti, its upcoming energy storage platform set to launch on August 15.
Ola Electric Mobility shines on signing MoU with Axis Energy
Mumbai, August 5 (Udaipur Kiran): OLA Electric Mobility is currently trading at Rs. 41.28, up by 2.73 points or 7.08% from its previous closing of Rs. 38.55 on the BSE. The scrip opened at Rs. 38.78 and has touched a high and low of Rs. 42.55 and Rs. 38.73 respectively. So far 9005774 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 71.24 on 04-Sep-2025 and a 52 week low of Rs. 21.…
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