- Exponent’s charging station, the e^pump can fully charge any EV that has its e^pack (battery pack), in 15 minutes.
- With Park+, 1000 such zones will be set up in parking lots, making it convenient for users to charge their exponent enabled EVs.
Exponent Energy, an EV energy startup simplifying energy for EVs, and Park+, a super app for car owners and the largest EV charger installer in India, announced a partnership to deploy 1,000 charging zones across India by the end of 2023, starting with Bengaluru. The partnership will help Exponent to build a dense e^pump network by leveraging the real estate and public parking spaces accessible to Park+. Range anxiety has given way to charging anxiety, which both Exponent and Park+ are striving to solve together.
The charging stations set-up will be jointly branded as “Park+ EV Zones powered by Exponent” and will be deployed across high-demand hotspots of vehicle deployment and towards high EV usage regions.
Exponent Energy is redefining EV charging by solving the two-sided energy problem through its battery pack, e^pack and charging station, e^pump – allowing exponent to deliver a 15 minute full charge on exponent enabled vehicles. Recently, Exponent announced the world’s fastest-charging electric three-wheeler in a partnership with Altigreen Propulsion Labs.
Talking about the partnership, Arun Vinayak, Co-founder, and CEO, Exponent Energy shared, “We’ve already established the new norm for a seamless charging experience through our 15 minute full charge. The next step is to make finding an e^pump as easy as a petrol pump. With Park+ and its nationwide network of structured parking spaces, we aim to achieve just that, starting with Bengaluru. Rapid charging unlocks a much higher vehicle throughout on the same piece of land. More vehicles equals more energy, making the e^pump a far more profitable network.”
Commenting on the partnership, Amit Lakhotia, Founder & CEO, Park+, said “Park+ has been making conscious efforts to partner with like minded brands, to nurture the Indian EV ecosystem. As part of this strategy, we are excited to collaborate with Exponent to build a robust battery charging network across India. Exponent and Park+ users will now be able to discover these “Park+ EV Zones powered by Exponent” to charge their battery packs within 15 minutes. Additionally, we also aim to activate over 10,000 Park+ EV Zones across India, in the next 15 months, to make EV charging accessible and hassle free. We look forward to a long and fruitful partnership with Exponent.”
Exponent has raised $18Mn so far from Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC, Motherson Group and the family office of Dr. Pawan Munjal, Chairman, and CEO, Hero MotoCorp.
About Exponent Energy
Led by Arun Vinayak & Sanjay Byalal, exponent energy aims to simplify energy for EVs. The company has built a battery pack & charging station called the e^pack&e^pump that together unlock a 15 minute full charge for EVs with any number of wheels & provide a 3000 cycle life warranty – all while using regular Li-ion cells to make rapid charging affordable and scalable.
Founded in 2019 by Amit Lakhotia, Park+ is a super app for car owners that solves the daily challenges faced by car owners – ranging from parking, FASTag management, car insurance, automated vehicle access control systems and EV charging stations. Backed by Sequoia Capital and Matrix Partners, Park+ today hosts India’s largest community of car owners on its platform. Park+ is present in 3,000+ residential societies, 1,00,000+ parking areas, 300+ offices, and 35+ malls across Delhi NCR, Mumbai, and Bangalore.