Policy · Mobility & Logistics

Ola Electric gets PLI extension, unveils energy portfolio

By Startup Enthusiast · 12 August 2026

What they do

Ola Electric makes electric scooters, motorcycles, and energy storage products

MHI approved extended ACC PLI timelines with up to ₹7,240 crore incentives

Ola also launched Shakti energy portfolio and signed an MoU with Axis Energy

The Ministry of Heavy Industries approved revised timelines for Ola Electric's 20 GWh ACC PLI allocation.
Ola Electric can now receive up to ₹7,240 crore in cumulative PLI incentives over a 5-year window through 2031.
Incentives will be disbursed quarterly starting next quarter.
Ola Electric reversed a ₹57 crore penalty provision in its Q1 FY27 results after claiming a waiver request.
Auditor BSR & Co. flagged the reversal without final approval.
Ola Electric unveiled its Shakti energy portfolio – Shakti Gen2 for homes, Shakti Rack for businesses, and Mahashakti for grid-scale storage.
Ola Electric signed an MoU with Axis Energy for potential deployment of up to 20 GWh battery energy storage systems (BESS) by 2032.
Ola will unveil a broader energy product roadmap at its annual Sankalp event on August 15.

The PLI extension effectively gives Ola Electric two extra years beyond original timelines.
India's CEA estimates the country will require over 400 GWh of storage by 2032.
Axis Energy is building one of India's largest pipelines of storage-backed renewable projects with grid approvals for 3,750 MW.
Shakti generated over 50,000 customer leads in FY26 from telecom, petrol pumps, retail chains, and dark stores.

Ola Electric manufactures electric scooters (S1 series) and electric motorcycles (Roadster series).
It also produces energy storage products under the Shakti brand: Shakti Gen2 (homes), Shakti Rack (businesses), and Mahashakti (grid-scale).
Shakti products are built around indigenous LFP cell technology and the 4680 Bharat Cells (Gen1).
Shakti Gen2 is app-controlled and solar-integrated; Shakti Rack offers 9.2 kWh/6kW; Mahashakti rack provides 257 kWh/125+ kW.
Ola Electric sells Shakti 4.6 kWh at ₹99,999 introductory, Shakti Rack 9.2 kWh at ₹1,74,999, and MPPT solar charge controller at ₹39,999.
The company is building a multi-chemistry cell platform covering NMC and LFP, supported by indigenous R&D and localisation.
Ola Electric's installed cell capacity is 2.5 GWh, with 3.5 GWh under installation, targeting 6 GWh by end of current quarter.

Ola Electric will unveil its broader energy product roadmap at the annual Sankalp event on Independence Day (August 15).
The company targets achieving 6 GWh cell capacity by the end of the current quarter, ahead of the December 2026 milestone.
Ola Electric plans to deploy up to 20 GWh BESS with Axis Energy by 2032.