Partnership · Mobility & Logistics

Ola Electric signs BESS deal with Axis Energy

By Startup Enthusiast · 5 August 2026

What they do

Ola Electric makes electric scooters and home energy products

It signed an MoU with Axis Energy to deploy up to 20 GWh of battery energy storage by 2032

The deal is the first large-scale partnership for its upcoming Ola Mahashakti BESS platform

Ola Electric signed an MoU with Axis Energy for potential deployment of up to 20 GWh of battery energy storage systems (BESS) by 2032.
The MoU is the first large-scale partnership for Ola Mahashakti, Ola Electric's upcoming BESS platform.
Ola Mahashakti is scheduled to launch on August 15, 2026.
Annual deployments under the MoU could ramp up to 5 GWh from 2028.
Ola Electric stock rose 10.4% intraday to ₹42.55 on BSE on August 5, 2026.
The company has been grappling with slowing e2W sales, mounting losses, and competitive pressure.
Ola Electric is shifting from a D2C-only model to a dealer-partner network for sales and service.

Utility-scale BESS is emerging as a critical enabler of India's clean energy transition.
India is expected to require 400+ GWh of energy storage capacity by 2032 (CEA estimate).
Ola Electric's BESS business is positioned as its next growth engine, alongside its vertically integrated gigafactory.
The company has been facing regulatory and legal scrutiny, including a SEBI probe and insolvency petitions from suppliers.

Ola Electric sells electric scooters (S1 series) and motorcycles (Roadster series).
It sells home energy products: Ola Shakti (4.6 kWh, ₹99,999), Shakti Rack (9.2 kWh, ₹1,74,999), Mahashakti (₹99,999), and an MPPT solar charge controller (₹39,999).
Ola Mahashakti is a BESS platform for commercial, industrial, and utility-scale applications.
Applications include renewable energy integration, industrial power, grid infrastructure, and data centres.
Ola Electric claims its BESS is India-designed and India-manufactured, built on vertical integration from cell technology to system engineering.
The company has 590 service centres and claims 1 lakh third-party mechanics are EV-ready.
It uses AI-powered service with proactive maintenance alerts and remote diagnostics.
Ola Electric's 6 GWh gigafactory installation is largely complete, with commercialisation expected by end of Q1 FY27.
It plans to raise gigafactory capacity to 20 GWh by next year.
Ola Electric raised ₹780.24 Cr via a QIP (qualified institutional placement) in June 2026.

Ola Mahashakti to launch on August 15, 2026.
Dealer-partner programme expected to achieve meaningful on-ground scale by Diwali 2026.
Gigafactory commercialisation expected by end of Q1 FY27.
Plan to raise gigafactory capacity to 20 GWh by next year.

Axis Energy (partner) — Hyderabad-based renewable energy company with grid approvals for over 3,750 MW of projects in Andhra Pradesh and Rajasthan.