Ola Electric enters battery energy storage systems segment

New Delhi, Oct 16 (PTI) Ola Electric on Thursday said it has forayed into the country’s Rs 1 lakh crore battery energy storage systems market, which is projected to grow to over Rs 3 lakh crore by 2030.

The company has launched Ola Shakti, its first residential Battery Energy Storage System (BESS) solution.

"India doesn't face an energy shortage; it faces an energy storage opportunity. With Ola Shakti, we are turning that opportunity into energy independence,” Ola Electric CMD Bhavish Aggarwal said.

The company has built world-class battery and cell technology for electric mobility, and Ola Shakti extends that innovation to homes, helping them store and use clean energy intelligently, he added.

Ola Shakti is the first residential BESS in India, which is fully designed, engineered, and manufactured indigenously using the advanced 4680 Bharat Cell, using the highly durable, efficient and tested automotive battery packs, he added. PTI MSS DR DR