Ola Electric Shares Jump 10% After Signing BESS MoU With Axis Energy

by · Inc42

SUMMARY

  • Ola Electric shares surged over 10% after the company signed its first large-scale MoU for its upcoming commercial BESS platform, Ola Mahashakti, with Axis Energy.
  • The partnership marks Ola Electric's push into utility-scale energy storage as it looks to diversify beyond electric two-wheelers and build a new growth engine amid slowing EV sales and mounting regulatory scrutiny.
  • The MoU envisages annual BESS deployments of up to 5 GWh from 2028, with Mahashakti set to launch on August 15.