Ola Electric Mobility has signed a Memorandum of Understanding (MoU) with Axis Energy Ventures, marking its entry into the utility-scale battery energy storage system (BESS) market. The agreement outlines the potential deployment of up to 20 GWh of storage capacity by 2032, leveraging Ola’s vertically integrated cell-to-system platform. This partnership serves as an early validation of demand for Mahashakti, Ola’s forthcoming energy storage platform scheduled for launch on August 15.

Mahashakti Platform and Capacity Roadmap

The MoU is the first large-scale partnership for Mahashakti, which targets commercial, industrial, and utility-scale applications. The platform aims to address India’s growing need for grid-scale storage, with the Central Electricity Authority (CEA) estimating a requirement of over 400 GWh by 2032. Ola’s approach relies on vertical integration—from cell technology to manufacturing—to enhance safety, supply security, and lower total cost of ownership.

Key parameters of the collaboration include:

Under the roadmap, annual capacity additions of 5 GWh are planned starting from 2028. This phased scaling reflects a structured approach to meeting the rising demand for firm, round-the-clock clean energy integration.

Strategic Alignment with Axis Energy

Axis Energy Ventures is developing one of India’s largest pipelines of storage-backed renewable projects. The company holds grid approvals for over 3,750 MW of projects in Andhra Pradesh and Rajasthan, with an additional pipeline of approximately 3,500 MW. These projects span Firm and Dispatchable Renewable Energy (FDRE), hybrid, and non-solar configurations, all requiring large-scale BESS to improve grid reliability.

Ravi Kumar Reddy Kataru, Chairman and Managing Director of Axis Energy Ventures, stated that battery energy storage is essential for enabling reliable clean power as their renewable portfolio expands. He noted that the MoU marks a step toward evaluating indigenous battery storage solutions for their next growth phase.

Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, emphasized that India requires energy storage at a massive scale. He highlighted that the vertically integrated platform allows Ola to deliver stronger propositions in safety and performance. Aggarwal described Axis Energy as an important early validation of Mahashakti’s potential, noting strong interest from other industry partners.

What the Numbers Show

The commitment to deploy 20 GWh by 2032 represents a significant diversification for Ola Electric beyond electric vehicles. By aligning with Axis Energy’s ~7,250 MW pipeline of approved and prospective projects, Ola positions its Mahashakti platform to capture a meaningful share of the domestic BESS market. The vertical integration strategy aims to mitigate supply chain risks while competing on total cost of ownership, a critical factor in capital-intensive utility-scale projects.

Ola Electric Mobility has issued a clarification regarding the supplier insolvency claims filed against it at the National Company Law Tribunal (NCLT), stating that the proceedings are rooted in warranty disputes that are currently under arbitration. The company asserted that there is no hidden information and that the matters have no impact on its business operations or finances.

Company's Clarification on NCLT Proceedings

Ola Electric clarified that the supplier insolvency claims being pursued at the NCLT are a consequence of ongoing warranty disputes, which are being addressed through the arbitration process. The company maintained that these proceedings do not reflect any undisclosed liabilities and emphasized that neither its business operations nor its financial position has been adversely affected.

Background: Supplier Disputes at NCLT

The NCLT case involves unpaid dues amounting to ₹40 crore and represents the third instance of a supplier approaching the tribunal against Ola Electric over outstanding payments. With the latest clarification, the company has sought to contextualize these filings as arising from warranty-related disagreements rather than straightforward non-payment, with the underlying disputes being contested through formal arbitration channels.

EV Market Share Under Pressure

Beyond the legal proceedings, Ola Electric continues to navigate a declining share in India's electric vehicle market. The combination of supplier disputes and a softening market position presents a compounded set of challenges for the company as competition in the EV segment intensifies.

Key Highlights

• Ola Electric clarifies NCLT supplier claims are due to warranty disputes currently under arbitration
• Company states there is no hidden information and no impact on business operations or finances
• The NCLT case involves ₹40 crore in disputed dues, marking the third such supplier dispute
• Company continues to face a declining EV market share amid intensifying competition

Ola Electric's clarification seeks to reframe the NCLT proceedings as a function of contractual warranty disagreements being resolved through arbitration, while affirming the stability of its operational and financial standing.