Energy tech startup Exponent Energy is aiming to power 25,000 electric vehicles by 2025 as it displayed its proprietary energy stack comprising battery pack, charging station and charging connector in Bengaluru on Monday.
The company, in a statement, said it is looking to expand its operations to Delhi NCR, Mumbai, Hyderabad, Chennai and Ahmedabad by the end of this fiscal and is targeting to deploy 1,000 charging stations and 25,000 EVs powered by Exponent, by 2025.
Exponent said its energy stack together unlocks a 15-minute rapid charge, and long battery life (3,000 cycle life warranty, 3 times the industry standard) – all done on regular LFP cells for the first time in the industry.
Rapid charging kills range anxiety and the need for expensive, oversized battery packs, it said, adding that with this two-sided approach, EVs powered by exponent will be 30 per cent more affordable, which has been made possible by an optimised battery capacity (30 per cent smaller), and 5-year financing (powered by 3,000 cycle life warranty).
Additionally, 15-minute rapid charging reduces EV charging cost by 33 per cent, the company claimed.
Exponent’s energy stack addresses two key problems that, for decades, prevented rapid charging on LFP cells – Lithium plating and extreme heat, it said.
“We are building the future of energy that combines engineering with real world economics. For everyone to go electric, consumers need EVs that charge faster, last longer, and cost lesser,” Arun Vinayak, Co-founder and CEO of Exponent Energy, said.
The company is ramping it up across India starting with Delhi-NCR, Mumbai, Hyderabad, Chennai and Ahmedabad, he added.
The company said its 15-minute rapid charging also unlocks higher energy throughput enabling it to build a profitable and scalable EV charging network.
