Exponent Energy has unveiled India’s first 1MW rapid charging technology for electric buses and announced plans to introduce a 1.5MW rapid charging system for EVs later this year. The announcement follows BYD’s recent introduction of its 1MW charging technology for cars in China.
In August 2024, Exponent Energy partnered with Veera Vahana to launch the Veera Mahasamrat EV, an intercity electric bus equipped with rapid charging capabilities. To support this initiative, the company introduced its 1MW charging technology, aimed at reducing charging times and improving efficiency in the commercial EV sector.
Founded in 2020 by former Ather Energy executives Arun Vinayak and Sanjay Balyal, Exponent Energy has developed an integrated charging ecosystem, including its e^pack battery, e^pump charging station, and e^plug connector. This system enables a 15-minute rapid charge and offers a 3000-cycle battery life using cost-effective lithium-ion cells.
The company has expanded its operations across India, with over 1,700 EVs using its technology, completing more than 3.5 lakh rapid charging sessions and covering over 20 lakh kilometers. In the past two years, it has extended its presence to Delhi NCR, Chennai, Ahmedabad, Kolkata, and Hyderabad.
Exponent Energy has raised $44.6 million across multiple funding rounds, with investments from Lightspeed, Eight Roads Ventures, YourNest VC, 3one4 Capital, AdvantEdge VC, and the family office of Dr. Pawan Munjal, Chairman and CEO of Hero MotoCorp.