Ola Electric has introduced its Shakti energy storage portfolio, marking its entrance into the energy storage market amid the growing demand for renewable power and solutions to manage intermittent electricity generation. The portfolio broadens its battery business past electric mobility to cater to energy storage requirements across homes, businesses and power grids.
The shakti portfolio aims to support different energy storage requirements across residential, commercial and utility-scale applications. The company targets to serve products for use in homes and businesses as well as larger grid-connected projects.
The expansion allows the company to utilise its current battery technology and manufacturing apart from electric vehicles. Additionally, the move will potentially open doors for a new revenue stream as competition sharpens in India’s EV market.
Through Shakti portfolio, the company targets to secure a presence across several sectors of this growing market. The company’s capabilities to maintain battery performance, scale manufacturing and compete on cost will largely determine its expansion beyond electric mobility.
