Exponent Energy has launched India’s first 1MW rapid charging technology for electric buses, marking a significant milestone in the country’s EV charging infrastructure. The company also revealed plans to introduce the world’s first 1.5MW rapid charging technology for electric vehicles (EVs) later this year.
In August 2024, Exponent Energy partnered with Veera Vahana, a prominent bus manufacturer, to unveil the Veera Mahasamrat EV, India’s first rapid-charging intercity electric bus. To support this new fleet, Exponent deployed its 1MW charging technology, setting a new standard for fast and scalable EV charging in the country.
Arun Vinayak, CEO and Co-founder of Exponent Energy, emphasized the importance of India taking ownership of its EV technology, pointing out that while the country had followed global trends in internal combustion engine (ICE) technology, it could not afford to do the same with electric vehicles.
Founded in 2020 by former Ather Energy executives Arun Vinayak and Sanjay Balyal, Exponent Energy has developed a comprehensive EV charging ecosystem. This includes its battery pack (e^pack), charging station (e^pump), and charging connector (e^plug), enabling a rapid 15-minute charge with a 3,000-cycle life warranty. The system uses affordable Li-ion cells, making it cost-effective while raising the industry standard. Exponent Energy has already powered over 1,700 EVs, completed more than 350,000 rapid charging sessions, and covered over 2 million kilometers. In just two years, the company has expanded to five major cities: Delhi NCR, Chennai, Ahmedabad, Kolkata, and Hyderabad.
Exponent Energy has raised $44.6 million through Pre-Series A, Series A, and Series B rounds, with investment from Lightspeed, Eight Roads Ventures, YourNest VC, 3one4 Capital, AdvantEdge VC, and the family office of Dr. Pawan Munjal, Chairman & CEO of Hero MotoCorp.
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