Exponent Energy, a startup business providing electric vehicle charging infrastructure has partnered with Park+ which is a top automobile owner app in order to establish 1,000 charging zones across India by the end of 2023, beginning with the city of Bengaluru.
Vinayak and Sanjay Byalal, who formerly served as the chief product officer of Ather Energy, created Exponent Energy in 2020 with the goal of streamlining the energy for electric vehicles. Park+ seeks to address the problems that car owners encounter on a regular basis. Today, their platform is home to India’s largest community of car owners. Concerns about range have given rise to concerns about charging, a problem that Exponent Energy and Park+ are vigorously working to address together. They are trying to present a sustainable solution to the significant market need in a world where technology is evolving quickly.
Lightspeed led a $13 million fundraising round for Exponent Energy in August. The round also included participation from the company’s previous institutional investors as well. At the time of the investment, the business promised that it would start with Bengaluru and expand the e-pump network to 100 location points.
Exponent Energy asserts that its battery packs and charging stations, known as the e-pack and e-pump, respectively, can unleash a 0% to 100% rapid charge for electric vehicles with any number of wheels within 15 minutes and also provide a 3,000-cycle life warranty. All of these capabilities of the e-station are claimed to be possible while utilising standard lithium-ion cells.
By utilising the real estate and public parking spaces available to Park+, the agreement will assist Exponent Energy in creating and developing a dense network of e-pump stations, according to a statement from the startup. These will be placed in parking lots to make it easy for users to charge their electric vehicles.
They are cooperatively installed charging stations that will bear the branding and be known as “Park+ EV Zones powered by Exponent” and will be distributed throughout high-demand car deployment hotspots and in regions with a high electric vehicle usage rate.
In order to support the Indian electric vehicle ecosystem, Park+ has made a concerted effort to partner with companies with the same sustainable goal. They are thrilled to collaborate with Exponent Energy to provide a reliable battery charging network across India as part of this goal. To make EV charging accessible and hassle-free, they also aim to unveil over 10,000 Park+ EV Zones across India in the upcoming few months. They look forward to a long and fruitful partnership with Exponent Energy, according to the founder and CEO of Park+, Amit Lakhotia. Exponent Energy and Park+ users can now use these e-stations to charge their battery packs within 15 minutes.
Through their 15-minute full charge, Exponent Energy has already established the new standard for a flawless charging experience. The next stage is to make finding an e-pump as simple as finding a gas station. They seek to do that precisely, beginning in Bengaluru, with Park+ and its national network of structured parking spots. Recently, Exponent and Altigreen Propulsion Labs have unveiled the fastest-charging electric three-wheeler in the world.