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Bhavish Aggarwal
Ola Electric hasannounced that the company will announce its first non-vehicle product on October 17.
Speculations are about Ola Electric eyeing the energy storage market, which is expected to reach over $30 billion by 2030, news agency PTI reported, citing sources.
Bhavish Aggarwal announces launch of first non-vehicle product
“Launching our first non vehicle product this Diwali!” Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, posted on X.
He shared a teaser, adding, "Power has always been a utility, but now it becomes Deep Tech - intelligent, portable, and personal!"
Launching our first non vehicle product this Diwali!
— Bhavish Aggarwal (@bhash) October 14, 2025
Power has always been a utility, but now it becomes Deep Tech - intelligent, portable, and personal!
17 October - Stay Tuned. @OlaElectricpic.twitter.com/qsINUuCAwM
According to market experts, Ola is well-positioned for such a move, as its Tamil Nadu Gigafactory produces the in-house 4680 Bharat Cell, giving the company a strong manufacturing base for storage solutions.
By using the existing 5 GWh production capacity, Aggarwal’s company could launch storage systems for homes and businesses without huge investments in new facilities.
Ola’s nationwide retail presence could also double up as a distribution network for the new product.
If it launches a Battery Energy Storage System (BESS), it could diversify beyond the electric scooter market, where competition is heating up.
The announcement comes shortly after a change in the company’s shareholding structure. Japan’s SoftBank, one of its biggest investors, reduced its stake earlier this year from 17.83 per cent to 15.68 per cent.
The Japanese group sold nearly 95 million shares in open market deals carried out between July and September, reflecting a cautious stance towards Bhavish Aggarwal-led Ola.