Ola Electric is reportedly planning to enter into the energy storage market. It is projected to expand by USD 30 billion by 2030 according to a PTI report citing sources. Company Chairman and Managing Director Bhavish Aggarwal has hinted at a major announcement on October 17. It suggests Ola Electric’s possible entry into this new segment. In a post on social media Aggarwal stated that India’s power landscape is evolving “from utility to deep tech intelligent portable and personal” it indirectly indicates the company’s plan to expand beyond its core electric vehicle business. Ola Electric To Enter In BESS Market? Media reports speculate the announcement could involve Battery Energy Storage Systems (BESS) for homes and businesses leveraging Olas existing 4680 Bharat Cell technology from its Tamil Nadu Gigafactory. The timing matches with growing demand for distributed energy solutions. If Ola is entering the BESS market the company will benefit from existing infrastructure that reduces traditional entry barriers. Its 5 GWh Gigafactory capacity could be repurposed for storage applications without major capital expenditure while the nationwide network of Ola Electric stores could provide ready distribution points for residential and commercial clients. This asset-light expansion model will also allow faster market entry compared to building dedicated BESS infrastructure. The Indian energy storage sector presents major opportunities for early movers. Olas potential entry may bring different advantages like domestic manufacturing capability at a time when the government is prioritising local production. (With Inputs From PTI)