Ola is set to launch its first non-vehicle product today at 10am and with this new product, the company best known for its electric scooters will enter a new chapter.
Ola Electric Chairman and CEO Bhavish Aggarwal announced in an Instagram post on October 15 that the launch will happen earlier than expected. Announcing the revised date, he said, “Launch revised to tomorrow at 10:00!🔋⚡️” The trailer reads “Shakti (energy)” written in Hindi, suggesting that the product will not be different from anything the company has introduced so far.
Earlier, the launch was scheduled for October 17, on the occasion of the festival of Diwali. Teasing the upcoming product release, Bhavish Aggarwal said, “Power has always been useful, but now it’s become Deep Tech – smart, portable and personal!”
Reaction on social networks
With many speculating about Ola entering the energy storage business, social media is buzzing with excitement.
User wrote: “Will be Homepod!”
Another user commented: “Intelligent and portable performance that sounds both futuristic and practical.”
A third user said: “I feel like ola is now being positioned as an energy player, not just a mobility player.”
A fourth comment read: “A fiery diwali gift to India”.
A fifth user said: “OG naming for homepod!”
A sixth user replied: “Very excited, adrenaline pumping through my veins. #shakti the power”
A seventh user wrote: “I love the mix of tech and spirituality tbh.”
An eighth user said: “I can’t wait to see what Shakti actually is.”
Market observers closely following these developments believe that if the company enters the energy storage space segment, it could open up a multi-billion dollar opportunity. The domestic energy storage market could cross $30 billion by the end of this decade, NDTV reported, citing industry estimates.
What is HomePod?
HomePod, developed by Apple, is a series of smart speakers that work with the Apple Music subscription service.
