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

Electric two-wheeler maker Ola Electric Mobility extended its rally for the second consecutive session on Thursday, October 16, surging 5% to ₹55.20 apiece, following the company’s entry into the Battery Energy Storage System (BESS) segment. In an exchange filing today, the company announced the launch of its first residential Battery Energy Storage System (BESS), marking a strategic move beyond the automotive domain. Ola Electric enters residential battery storage 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 couple of years. The company claims that this is India’s first fully designed, engineered, and manufactured residential BESS, developed indigenously using advanced 4680 Bharat Cells and built with highly durable, efficient, and tested automotive battery packs. Bhavish Aggarwal, CMD, Ola Electric, said, “India doesn't face an energy shortage; it faces an energy storage opportunity. 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 store and use clean energy intelligently. 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 further added. According to the company, Ola Shakti is available at introductory prices in four 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. The system can power air conditioners, refrigerators, induction cookers, farm pumps, and communication equipment, with charging times as low as 2 hours and a backup capacity of up to 1.5 hours at full load. The product will be available for purchase on the Ola Electric website as well as in Ola stores, with deliveries beginning Makar Sankranti 2026. Reservations start today at ₹999, its regulatory filing showed. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.