New Delhi, Oct. 16 -- Ola Electric launched its first non-vehicle product, Shakti, at 10:00 am on 16 October, marking the company's entry into the energy storage segment. The launch signals a strategic shift for the EV manufacturer, which has so far focused on electric two-wheelers.

Prior to the launch, online speculation swirled around the product's identity, with some users guessing it might be a smart speaker like Apple's HomePod.

Bhavish Aggarwal, chairman and Managing Director of Ola Electric, introduced "Shakti," an in-house-developed app-based energy storage device. Described as portable and intelligent, the product is positioned as a multipurpose product for power backup, solar storage and mobile energy needs. He said, "It is a ...