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The Economic Times

Veer Sharma

Ola Electric Mobility shares rally over 7%. What's boosting investor sentiment?

Ola Ola Electric Ola Electric Mobility MOU Bhavish Aggarwal India Renewable Energy

Shares of two-wheeler maker Ola Electric Mobility rallied as much as 7.5% to an intraday high of Rs 41.41 on the BSE on Wednesday after the company signed a memorandum of understanding (MoU) with Axis Energy to deploy up to 20 GWh of battery energy storage systems (BESS) by 2032.

The agreement marks the first large-scale partnership for Ola Mahashakti, the company's upcoming energy storage platform for commercial, industrial, and utility-scale applications, which is scheduled to be launched on August 15.

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