In Bangalore, Ola Electric has made a significant stride by launching its residential battery energy storage system named Shakti. This initiative, announced by founder Bhavish Aggarwal, marks the company's entry into the non-automotive energy storage sector. The unveiling took place at their gigafactory located in Krishnagiri, Tamil Nadu, as the company seeks to broaden its horizons beyond electric vehicles.
The Shakti system is powered by Ola Electric's indigenously developed 4680 Bharat Cell, designed to provide reliable and efficient energy storage solutions for both residential and small commercial applications. This launch is a part of the company's strategy to diversify its offerings amid the growing competition in India’s electric vehicle landscape. An Ola Electric spokesperson emphasized that with Shakti, the company aims to transform how energy is stored and consumed across India, making it affordable and accessible to every home, farm, and business.
Shakti will be available in four configurations, offering storage capacities that range from 1.5 kilowatt-hours (kWh) to 9.1 kWh, along with power outputs between 1 kilowatt (kW) and 6 kW. This versatility ensures that the system can efficiently support various household appliances, including refrigerators, air conditioners, and even induction cookers. Additionally, it caters to agricultural needs by powering equipment like farm pumps, showcasing the product's potential to enhance productivity in rural areas. With a quick charging time of just two hours, Shakti stands out as a practical solution for energy storage.
In a bid to encourage early adoption, Ola Electric has introduced introductory pricing for the first 10,000 units, with prices starting at Rs 29,999 and going up to Rs 1,59,999 for the different configurations. This strategic pricing is expected to resonate well with Indian consumers who are increasingly looking for sustainable and cost-effective energy solutions. With substantial investment in battery cell manufacturing and infrastructure, Ola Electric is positioning itself as a key player in the evolving energy landscape, potentially paving the way for long-term revenue growth beyond their core automotive business.
As Ola Electric embarks on this new journey with Shakti, it signals a commitment to innovation and a sustainable future, making strides to ensure that energy storage solutions are not just a luxury but a necessity that can be embraced by every segment of society.
