Ola Electric signs Axis Energy MoU for up to 20 GWh of battery storage by 2032
Ola Electric has signed an MoU with Axis Energy to potentially deploy up to 20 GWh of its Mahashakti battery energy storage systems by 2032. The deal marks Ola’s first large-scale BESS partnership, extending its battery manufacturing ambitions beyond electric vehicles into utility-scale energy storage.
Ola Electric signed an MoU with Axis Energy for potential deployment of up to 20 GWh of Mahashakti battery storage systems by 2032, marking its first large-scale BESS partnership and opening a commercial and utility-scale growth avenue.
Why this matters
The MoU follows Ola Electric's distribution-network redesign, resurfaced as a February 2025 profitability move, and its profitability focus, while extending the company beyond EVs into utility-scale energy storage.
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