Ola Electric Mobility Limited has signed a memorandum of understanding (MoU) with Axis Energy for the potential deployment of up to 20 GWh of battery energy storage systems (BESS) projects by 2032. The companies will gradually increase production to 5 GWh of BESS capacity annually starting in 2028.
The agreement is the first partnership for Ola Mahashakti, the company’s upcoming energy storage platform for commercial, industrial, and utility-scale applications. The platform, scheduled to launch on August 15, 2026, will facilitate Ola Electric’s expansion into the utility-scale BESS segment.