Ola Electric in talks with automakers to sell lithium-ion batteries; EV stock ends flat

Ola Electric, the two-wheeler electric vehicle (EV) and battery maker, is in talks with several domestic and global automakers as the company aims to supply lithium-ion cells and battery packs from its Krishnagiri gigafactory, people aware of the development told the news agency PTI.

Bhavish Aggarwal-led Ola Electric is looking to expand beyond its regular portfolio of electric scooters and bikes, leveraging its in-house technology, the 4,680 Bharat Cell. The company is using its only gigafactory with a 6 gigawatt-hour (GWh) installed capacity to commercially develop the lithium-ion batteries.

The Bengaluru-based firm’s talks with the automakers come as Ola Electric plans to expand its battery manufacturing operations, with the installed capacity expected to rise to 12 GWh by July 2027, and 20 GWh by the end of the financial year ending 2028, according to the agency report.

Shares of Ola Electric ended flat or 0.06% lower at ₹36 after Thursday’s trading session, compared to ₹36.02 in the previous market close, according to NSE data.

The people aware of the development also said that nearly one-third of Ola’s 20 GWh plan is being earmarked for third-party sales to automotive original equipment manufacturers (OEMs), while potential customers evaluate Ola’s manufacturing operations before making long-term commercial commitments.

Ola’s investment plans

In February 2026, Ola Electric announced its plans to focus on manufacturing, battery technology, cells and research and development, for which the company has invested around ₹5,300 crore in these segments.

The company’s latest plans show that Ola is preparing to supply to the demand beyond its in-house two-wheeler vehicles business, with the help of its lithium-ion battery and Ola Shakti home energy storage system.

The company is also expected to receive strong support from the central government’s EV policy 2.0, which, if approved, will only allow electric two-wheelers for registration from the beginning of the financial year 2028-29 in the National Capital Territory of Delhi.

Ola Electric’s order book also witnessed a healthy order book in April 2026, with registrations rising to 12,116 units, up 20% sequentially when compared to 10,133 units in March 2026, as per Vahan data.

Ola Electric share price trend

Ola Electric shares have lost 30% in the past one year period, and 4% so far in 2026. The EV company’s stock has dropped 5.8% in the past one month, but was trading 2.6% higher over the last five market sessions as per NSE data.

The shares surged to their 52-week high of ₹71.25 on September 4, 2025, while the 52-week low level was at ₹22.25 on March 16. 2026, as per the exchange data.

The company’s market capitalisation (M-Cap) was at ₹15,887 crore as of the stock market close on Thursday, May 14.