Exponent Energy, a Bengaluru-based energy tech startup, aims to expand its operations to five new cities by FY24. The company which today unveiled its 15 minute rapid charging solution for the electric vehicle industry, said that it aims to deploy 1,000 e pumps and 25,000 EVs powered by Exponent by 2025.
Exponent claims that its energy stack addresses two problems that have prevented rapid charging on LFP cells, those of lithium plating and extreme heat.
The company further stated that rapid charging addresses concerns of range anxiety and the need for expensive, oversized battery packs. The company is of the hope that this unique approach will make EVs powered by Exponent 30% more affordable, made possible by an optimised battery capacity (30% smaller) and five year financing (powered by 3000 life cycle warranty). It also claims that its 15 minute rapid charging will reduce EV charging costs by 33%.
The company has built an advanced HVAC system that does not exceed 35 degrees Celsius, in any ambient temperature condition.
Arun Vinayak, CEO and co-founder, Exponent Energy said, “For everyone to go electric, consumers need EVs that charge faster, last longer and cost lesser. Our unique two-sided approach to 15 minute rapid charging makes EVs last 3 times longer and cost 30% less than conventional EVs. We’re excited to scale this across India, starting with Delhi NCR, Mumbai, Hyderabad, Chennai and Ahmedabad.