(MENAFN- Live Mint) Ola is set to launch first non-vehicle product today at 10:00 AM, and with this new product the company, best known for its electric scooters, will enter a new chapter.

Chairman and Managing Director of Ola Electric, Bhavish Aggarwal, in a post on Instagram on October 15 announced that the launch will take earlier than expected. While announcing the revised date, he stated,“Launch revised to tomorrow 10am!🔋⚡️” Suggesting that the product will be unlike anything the company has introduced so far, the teaser shows“Shakti (energy)” written in Hindi.

Earlier, the launch was slated for October 17, on the occasion of Diwali. Teasing the upcoming products release, Bhavish Aggarwal stated,“Power has always been a utility, but now it becomes Deep Tech - intelligent, portable, and personal!”

Social media reaction

With many speculating it as Ola's entry into the energy storage business, social media is buzzing with excitement.

A user wrote,“Will be the Homepod!”

Another user remarked,“Intelligent and portable power, that sounds both futuristic and practical.”

A third user said,“Feels like ola's now positioning itself as an energy player, not just mobility.”

A fourth comment read,“Lit diwali gift for India.”

A fifth user stated,“OG naming for the homepod!”

A sixth user replied,“Very excited, it made adrenaline rush to my veins. #shakti the power”

A seventh user wrote,“Love that mix of tech and spirituality tbh.”

An eighth user said,“Can't wait to see what शक्ति actually is.”

Market watchers closely following this development believe that if the company steps into the energy storage space segment, it could open a multibillion-dollar opportunity. The domestic energy storage market might cross $30 billion by the end of this decade, NDTV reported citing industry estimates.

What is a HomePod?

Developed by Apple, the HomePod is a series of smart speakers which work with the Apple Music subscription service.

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