Exponent to deploy 3,500 EVs powered by Exponent and 100 e-pumps (15-minute charging station) in Bengaluru next year.
- EVs powered by Exponent have covered 10,00,000+ kms, completed 25,000+ rapid charging sessions, and managed to reduce EV charging cost by 33%.
- Company plans to expand operations to five new cities by the end of FY ’24 and is targeting to deploy 1,000 e^pumps and 25,000 EVs powered by Exponent, by 2025.
- Exponent to deploy 3,500 EVs powered by Exponent and 100 e-pumps (15-minute charging station) in Bengaluru next year.
Bengaluru, Karnataka, India, July 31, 2023: Exponent Energy, an energy-tech startup unveiled the tech behind its 15-minute rapid charging solution for the EV industry. Exponent showcased its proprietary energy stack – battery pack (e^pack), charging station (e^pump) and charging connector (e^plug) that together unlock a 15-minute rapid charge, and long battery life (3000 cycle life warranty, 3 times the industry standard) – all done on regular LFP cells for the first time in history.
Rapid charging kills range anxiety and the need for expensive, oversized battery packs. With this unique two-sided approach, EVs powered by exponent will be 30% more affordable, made possible by an optimised battery capacity (30% smaller), and 5 year financing (powered by 3000 cycle life warranty). Additionally, 15-minute rapid charging reduces EV charging cost by 33%.
Exponent’s energy stack addresses two key problems that, for decades, prevented rapid charging on LFP cells – Lithium plating and Extreme heat.
The company is looking to expand its operations in five more cities – Delhi NCR, Mumbai, Hyderabad, Chennai and Ahmedabad by the end of FY ’24 and is targeting to deploy 1,000 e^pumps and 25,000 EVs powered by Exponent, by 2025.
In the past year, Exponent partnered with Altigreen, resulting in the successful launch of the first EV powered by exponent – the neEV Tez. Looking ahead, Exponent aims to deepen their presence in the 3 wheeler cargo and passenger vehicle market and also explore new vehicle categories. The startup is backed by key investors like Lightspeed India, YourNest VC, 3one4 Capital, AdvantEdge VC, Pawan Munjal’s family office, Motherson Group and has raised $18mn till date.
