Ola Electric Signs MoU With Axis Energy for Up to 20 GWh Battery Storage by 2032

Ola Electric Mobility Limited announced that it has signed a Memorandum of Understanding (MoU) with Axis Energy to explore the deployment of up to 20 GWh of battery energy storage systems (BESS) by 2032.

The partnership marks the first commercial agreement for Ola’s Mahashakti energy storage platform, which is scheduled to launch on 15 August. The collaboration will focus on battery storage for commercial, industrial, and utility-scale applications.

Axis Energy is developing renewable energy projects that require battery energy storage systems to support power delivery and grid operations. Under the MoU, the two companies will work together to meet part of this storage requirement through Mahashakti.

Bhavish Aggarwal, Chairman and Managing Director, Ola Electric, said, “India will need energy storage at a massive scale and our vertically integrated cell-to-system platform enables us to deliver a stronger proposition across safety, performance and total cost of ownership. Axis Energy is our first large-scale partner and an important early validation of Mahashakti’s potential. We are witnessing a strong interest from potential partners in the industry, and this MoU further strengthens our momentum in building long-term partnerships.”

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