Ola Electric shares jump 5% on likely foray into energy storage market

According to a report by PTI, Ola Electric is likely to enter the energy storage market, which is expected to reach over $30 billion by 2030

Shares of Ola Electric rose 5 per cent on Wednesday amid reports that the electric vehicle (EV) maker is likely to enter the energy storage market with the launch of a product later this week. 

 

The EV maker's stock rose as much as 4.9 per cent during the day to ₹52.7 per share, the biggest intraday rise since September 30 this year. The Ola Electric Mobility stock pared gains to trade 4.7 per cent higher at ₹52.5 apiece, compared to a 0.54 per cent advance in Nifty 50 as of 10:32 AM. 

 

Shares of Ola Electric are down over 25 per cent from their September 2025 highs. The counter has fallen 39 per cent this year, compared to a 6.9 per cent advance in the benchmark Nifty 50. Ola Electric has a total market capitalisation of ₹22,962.78 crore.

 

Ola Electric likely to foray into energy storage market

According to a report by Press Trust of India (PTI), Ola Electric is likely to enter the energy storage market, which is expected to reach over $30 billion by 2030. 

 

Meanwhile, in a tweet on X, Ola Electric Chairman and Managing Director Bhavish Aggarwal said that the EV maker will be launching their first non-vehicle product this Diwali. "Power has always been a utility, but now it becomes Deep Tech - intelligent, portable, and personal!," he added in the tweet. 

 

The PTI report added that the industry sources speculate the announcement could involve Battery Energy Storage Systems (BESS) for homes and businesses, leveraging Ola's existing 4680 Bharat Cell technology from its Tamil Nadu Gigafactory. If Ola is indeed entering the BESS market, the company would benefit from existing infrastructure that reduces traditional entry barriers, it added.   ALSO READ | Eternal up 86% from April low; hits new high; Should you buy, hold or sell?

Ola Electric FY26 Outlook

Ola Electric, while announcing June quarter (Q1F26) earnings on July 14, said that the company expects to sell between 325,000 to 375,000 vehicles and generate revenue of ₹4,200 – 4,700 crore. 

 

With Production Linked Incentive (PLI) benefit beginning from Q2 for Gen 3 product portfolio, gross margin is projected to rise to 35 per cent - 40 per cent, and the company anticipates full-year Auto Ebitda of above 5 per cent. The company also expects the auto business to remain Ebitda positive from Q2 onwards.

 

The company last month announced a festive campaign with prices of its S1 scooters and Roadster X motorcycles starting at ₹49,999 for nine days starting September 23. Under Ola Muhurat Mahotsav, the customers now stand a chance to own Ola's scooters and motorcycles daily at never-before-seen prices.