Bhavish Aggarwal hints Ola Electric's foray into energy storage systems

Ola Electric Chairman and Managing Director Bhavish Aggarwal took to social media to announce that the company will announce its first non-vehicle product on October 17.

The announcement on social media came after market's close and any market reaction to the news will be visible the next day. Shares of Ola Electric closed slightly lower (0.06%) than its opening price on Monday, October 14. 

Speculations are rife stating Ola Electric is eyeing energy storage market which is expected to reach over $30

billion by 2030, news agency PTI reported citing sources.

"Power has always been a utility, but now it becomes Deep Tech - intelligent, portable, and personal!" Aggarwal posted on X.

Launching our first non vehicle product this Diwali!

Power has always been a utility, but now it becomes Deep Tech - intelligent, portable, and personal!

17 October - Stay Tuned. @OlaElectric pic.twitter.com/qsINUuCAwM

— Bhavish Aggarwal (@bhash) October 14, 2025

If true, Aggarwal could leverage Ola Electric's existing infrastructure including 4680 Bharat Cell technology from its Tamil Nadu Gigafactory.

Last month, Japan's SoftBank Group pared its stake in the electric scooter maker Ola Electric Mobility Ltd, cutting its shareholding to 15.68% from 17.83%.

The Japanese investor sold 94.9 million equity shares, or about 2.15% of the company’s paid-up capital, through open market transactions between July 15 and September 2, 2025.

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