Exponent Energy Opens First Retail Store for EV Three-Wheelers in Bengaluru

Exponent Energy has launched its first retail store for electric three-wheelers in the Laggere area of Bengaluru, marking its entry into direct retail operations.

The Exponent Sales Point (ESP) Store, located in Nandini Layout, serves as a comprehensive facility where auto-rickshaw drivers can explore electric vehicle options, arrange test drives, and convert their existing CNG or LPG vehicles to electric through retrofit services. The company claims the conversion process can be completed within 24 hours.

The store features five three-wheeler models developed in partnership with manufacturers including Montra Electric (part of the Murugappa Group) and Kinetic Green. All vehicles on display are equipped with Exponent's proprietary charging technology, which the company says enables a full charge in 15 minutes.

Ayush Bhargava, Head of Business at Exponent Energy, said the store provides auto drivers with a unified experience for exploring vehicle options and understanding the upgrade process. He indicated the company plans to establish 15 additional retail touchpoints across Bengaluru by the end of the fiscal year 2026.

The vehicles come with a five-year warranty or 3,000 charging cycles, and buyers gain access to over 70 charging stations that Exponent operates across Bengaluru. The company offers financing options with minimal documentation requirements.

Exponent recently launched its retrofit service, Exponent Oto, which allows drivers to convert conventional fuel vehicles with zero down payment and flexible EMI options. The company claims drivers can save up to ₹5,000 monthly after accounting for charging and loan costs, and offers an assured buyback after three years.

Founded in 2020 by former Ather executives Arun Vinayak and Sanjay Byalal, Exponent Energy has developed three core components: a battery pack (e^pack), charging station (e^pump), and charging connector (e^plug) that work together to enable rapid charging using standard lithium-ion cells.

The company reports it currently has over 2,500 vehicles using its technology on Indian roads, has installed more than 150 charging stations, and has facilitated over one million rapid charging sessions. Exponent operates in Delhi-NCR, Bengaluru, Chennai, and Ahmedabad.

To date, Exponent has raised $44.6 million across Pre-Series A, Series A, and Series B funding rounds from investors including Lightspeed, Eight Roads Ventures, YourNest VC, 3one4 Capital, AdvantEdge VC, and the family office of Dr. Pawan Munjal, Chairman and CEO of Hero MotoCorp.

The Laggere store is situated at Tarun Arcade, Ground Floor, 3rd Block, opposite Dr. Rajkumar Punyabhoomi, Nandini Layout, Bengaluru-560096.