National, September 23rd, 2023: Montra Electric, the EV brand of Murugappa Group, and Exponent Energy, an energy-tech startup, has announced a partnership to develop rapid charging electric vehicles in the 3-wheeler segment.
Montra Electric will launch a rapid charging 3W variant that will be equipped with Exponent’s 8.8 kWh e^pack and will achieve a 0 to 100% charge in 15 minutes at Exponent’s e^pump charging network, while also having the ability to be slow charged at home. Exponent's e^pack comes with a 3000-cycle life warranty even with 100% rapid charging. This technology was independently validated by TUV India (TUV Nord Group, Germany) which reported only 13% degradation after 3000 cycles of rapid charging.
Montra Electric, EV Brand from 123 years legacy Murugappa Group has launched its Super Auto in Three Wheeler Passenger Category with an aspirational and industry-defining proposition. The brand is expected to launch its Three Wheeler Cargo Proposition by early 2024 targeting both individual as well as institutional customer requirements.
Exponent has made 15-minute rapid charging an on-road reality using its proprietary energy stack (battery pack - e^pack, charging station - e^pump, and connector - e^plug). They solve two key challenges with 15-minute rapid charging: Lithium plating & extreme heat. The company’s proprietary BMS & charging algorithms ensure minimal Lithium plating resulting in the e^pack’s long life. To tackle extreme heat, the company has innovated with the world’s first “water-based” offboard thermal management system using an advanced HVAC system in the e^pump.
Mr. Kalyan Kumar Paul, Managing Director, TI Clean Mobility Pvt Ltd expressed confidence in the partnership with Exponent Energy and conveyed his best wishes mentioning, “This will be a key enabler in the Electric Adoption journey”.
Commenting on the partnership, Mr. Sushant Jena, Head, Montra Electric 3W Division said, “We are excited to partner with Exponent Energy to offer 15-minute Rapid charging option to our valued customers. It’s a perfect fit in our product proposition, addressing the range anxiety of our customers who are looking to do more trips everyday”.
The partnership between Montra Electric and Exponent Energy is poised to redefine the electric vehicle industry by leveraging the strengths and expertise of both entities. Montra Electric already has a presence of about 40 Showrooms spread across the South Indian market and are expanding rapidly into the remaining parts of the country by the end of this Financial Year. The company is also coming up with more variants of products suiting the wide spectrum of customer requirements.
Elaborating on the partnership, Arun Vinayak, Co-founder & CEO, Exponent Energy said, “It’s a privilege to be partnering with Montra Electric to rapidly electrify last-mile mobility. With their strength in vehicle design, manufacturing, distribution, and financing with our focus on energy tech and rapid charging network, we will together launch zero compromise EVs. 15 minute rapid charging kills charging anxiety and is crucial to delivering uptime and flexibility in operations needed for last-mile mobility. Like refueling a diesel vehicle, customers will enjoy the same level of freedom as ICE vehicles, while reaping all the advantages of going electric.”
Exponent has already launched commercial operations in Bengaluru with the support of 30+ e^pumps and a few hundred vehicles delivered to customers in the last quarter, together powering half a million kms monthly. By the end of 2023, Exponent Energy will expand its operations in five more cities - Delhi NCR, Mumbai, Hyderabad, Chennai, and Ahmedabad. The company plans to deploy 1,000 e^pumps and power 25,000 EVs with its technology by 2025.