India’s Exponent Energy Unveils 1MW Bus Charging, Rivaling BYD’s Car Tech

The global automotive industry is undergoing a seismic shift, with electric vehicles (EVs) increasingly becoming the norm. A critical factor in accelerating this transition is the development of robust and efficient charging infrastructure.

The ability to rapidly replenish an EV’s battery charge is paramount to alleviating consumer concerns about range anxiety and matching the convenience of traditional gasoline refuelling.

In this dynamic landscape, India’s Exponent Energy has emerged as a significant player, showcasing its 1MW rapid charging technology for buses and announcing plans to launch the world’s first 1.5MW technology for EVs later this year.

This development positions India at the forefront of megawatt-level charging capabilities, potentially surpassing even recent advancements made by global giants like China’s BYD.

Exponent Energy’s recent announcement highlights the company’s ambitious strides in the realm of EV charging technology. The Bengaluru-based startup has already demonstrated its prowess with the unveiling of a 1MW rapid charging solution specifically designed for electric buses.

This achievement was made in collaboration with Veera Vahana, a prominent player in the bus industry, leading to the introduction of the Veera Mahasamrat EV, an intercity electric bus equipped with this rapid charging capability.

This partnership, which materialized in August 2024, signifies a crucial step towards electrifying public transportation in India.

Currently, typical charging times for electric buses in India can range from 1.5 to 8 hours, depending on the battery size and charger capacity, for a range of 180 to 500 kilometers . Exponent’s 1MW technology promises to significantly reduce this downtime, enhancing the operational efficiency of electric bus fleets.   

Building on this momentum, Exponent Energy has further announced its intention to launch the world’s first 1.5 Megawatts (MW) rapid charging technology for EVs later this year. This declaration is particularly noteworthy when juxtaposed with recent developments from BYD in China, which unveiled its own 1MW charging technology for cars-.

While BYD’s advancement garnered significant attention globally, Exponent Energy’s announcement underscores India’s growing capabilities in EV technology, aiming to surpass even these cutting-edge developments.

The move from 1MW for buses to 1.5MW for a broader range of EVs indicates Exponent’s strategic vision to cater to diverse vehicle segments and potentially achieve even faster charging times or support larger battery capacities.  

Arun Vinayak, CEO and Co-founder of Exponent Energy, took to Twitter to comment on these achievements, directly addressing the excitement surrounding BYD’s 1MW charging technology.

He emphasized that India already possesses 1MW charging capabilities, highlighting the need for national self-belief in building and owning all layers of EV technology.

His statement implicitly positions Exponent Energy as a leader in megawatt charging within India, challenging the notion that such advanced technology is solely the domain of Chinese companies.

Furthermore, Mr. Vinayak pointed out that Exponent’s 1MW technology is built using standard off-the-shelf cells, making it significantly more accessible compared to BYD’s technology, which leverages their “fantastic cell material science capability” to achieve 10C charging.

This suggests a fundamental difference in technological approach, with Exponent focusing on innovative system integration and charging algorithms rather than relying on highly advanced and potentially proprietary battery cell chemistry.

The use of readily available components could translate to greater cost-effectiveness and scalability for Exponent’s charging solutions, as standardized parts often benefit from established supply chains and economies of scale. While acknowledging BYD’s strengths in-cell technology, Mr. Vinayak also expressed optimism about securing an Indian cell partner soon.

This ambition reflects Exponent’s long-term commitment to fostering a more localized and self-reliant EV ecosystem in India, potentially reducing dependence on international suppliers and bolstering domestic manufacturing.

The key to Exponent Energy’s rapid charging capabilities lies in its uniquely integrated ecosystem. The company has developed its own proprietary battery pack (e^pack), charging station (e^pump), and charging connector (e^plug).

This holistic approach allows Exponent to optimize each component to work seamlessly together, unlocking a 15-minute rapid charge and providing an impressive 3000-cycle life warranty for EVs.

This integrated system distinguishes Exponent from other players in the market who might utilize disparate components from various manufacturers.

By controlling the entire energy flow, Exponent can implement sophisticated charging algorithms and safety protocols that ensure both rapid charging and battery longevity.

The achievement of a 15-minute charge time is particularly significant when compared to typical charging times for electric cars in India, which can range from over 3 hours to around 55 minutes even with fast chargers. Globally, even with rapid chargers, adding 100 miles of range can take approximately 35 minutes.

Exponent’s technology, therefore, represents a substantial leap forward in convenience, potentially making EV ownership more appealing to a wider range of consumers.

Furthermore, the 3000 cycle life warranty addresses a key concern regarding the impact of rapid charging on battery degradation. By offering such a robust warranty, Exponent aims to establish a new industry standard and provide assurance about the long-term reliability of their technology.

Notably, all these advancements are achieved using a range of affordable Li-ion cells, highlighting the potential for cost-effective and scalable deployment of their solution.   

Exponent Energy, co-founded in 2020 by Arun Vinayak and Sanjay Balyal, both former executives at Ather Energy, has rapidly established a presence in the Indian EV market. Their experience at Ather, a successful Indian electric scooter manufacturer, likely provided them with valuable insights into the challenges and opportunities within the EV sector.

To date, over 1700 EVs in India are powered by Exponent’s technology, completing more than 3.5 lakh rapid charging sessions and covering over 20 lakh kilometres.

This real-world data underscores the growing adoption and validation of their rapid charging solutions. Within just two years, Exponent has expanded its operations to five major Indian cities: Delhi NCR, Chennai, Ahmedabad, Kolkata, and Hyderabad. This rapid geographical expansion indicates the scalability of their business model and the increasing demand for their technology across key urban centres.

The company has also secured significant funding, raising a total of $44.6 Million across Pre-series A, Series A, and Series B rounds, with investments from prominent venture capital firms like Lightspeed, Eight Roads Ventures, YourNest VC, 3one4 Capital, AdvantEdge VC, and the family office of Dr Pawan Munjal, Chairman & CEO of Hero MotoCorp.

This strong investor backing reflects the confidence in Exponent’s technology and its potential to disrupt the EV charging market in India and beyond.

To fully appreciate the significance of Exponent Energy’s advancements, it is crucial to understand the broader context of EV charging speeds in India and globally. For electric cars, typical charging speeds vary significantly depending on the charging level. Level 1 charging, using a standard household outlet, is the slowest, often taking 40-50+ hours for a full charge .

Level 2 chargers, commonly found at homes, workplaces, and public charging stations, offer faster charging, typically taking 4-10 hours for a battery electric vehicle (BEV)

. DC Fast Charging (DCFC) is the quickest option currently widely available, capable of charging a BEV to 80% in about 20 minutes to 1 hour. Some of the fastest-charging electric cars currently available in India can achieve full charges in around 24 to 55 minutes using high-power DC fast chargers.

Globally, rapid chargers (43-50 kW and 150 kW) can add up to 100 miles of range in approximately 35 minutes for many electric cars. Exponent’s claim of a 15-minute full charge using their integrated system significantly surpasses these typical charging speeds.  

Similarly, charging times for electric buses in India can range from 1 to 8 hours for a full charge or 1.5 to 3 hours with plug-in fast charging for a range of 300-500 km. Some electric buses are equipped for opportunity charging, where they receive short bursts of high-power charging at bus stops along their route, typically taking 4-6 minutes at around 450 kW.

LeafyBus in India has set a benchmark with a 360 kW fast-charging infrastructure, reducing charging time to under 50 minutes. Exponent’s 1MW bus technology, allowing for a 15-minute rapid charge, represents a substantial improvement over these existing charging times, promising to minimize downtime and enhance operational efficiency.

Megawatt charging, as demonstrated by Exponent and BYD, represents the next frontier in EV charging technology.

By delivering power at such high levels, these systems aim to drastically reduce charging times, making EVs even more practical for both personal and commercial applications, effectively bridging the gap with the refueling times of traditional internal combustion engine vehicles.  

The advent of ultra-fast charging technologies like Exponents holds the potential to revolutionize the EV landscape in several key ways. Firstly, it can significantly reduce range anxiety, a major psychological barrier for many potential EV buyers.

The ability to rapidly recharge an EV in a time frame comparable to refuelling a gasoline car makes longer journeys and spontaneous travel more feasible. Secondly, it can dramatically improve the operational efficiency of commercial EVs, such as buses and trucks. For fleet operators, minimizing downtime is crucial for maximizing vehicle utilization and profitability.

Exponent’s 1MW technology for buses directly addresses this need, enabling quicker turnaround times and potentially allowing for more flexible route scheduling. Thirdly, the availability of rapid charging infrastructure could potentially lead to the adoption of EVs with smaller battery packs. Smaller batteries would translate to lower upfront costs for the vehicles, making them more accessible to a broader range of consumers .

Finally, the push towards megawatt charging will inevitably impact the development and deployment of charging infrastructure. It will necessitate investments in upgrading power grids to handle the high power demands of these chargers and could lead to the emergence of new business models for charging station operators.  

Despite the immense potential, the widespread adoption of megawatt charging in India’s EV ecosystem is not without its challenges. A significant hurdle is the infrastructure requirement. Deploying such high-power charging stations demands a robust and reliable power grid capable of delivering substantial amounts of electricity.

This may require significant upgrades to the existing infrastructure in many parts of the country, including high-capacity transformers and dedicated power lines.

The cost-effectiveness of deploying and maintaining these megawatt charging stations is another crucial consideration.

The initial investment in equipment and installation, as well as the ongoing operational costs, will likely be substantial.

These costs could potentially impact the pricing of charging for consumers and fleet operators. While Exponent Energy offers an impressive 3000-cycle life warranty, concerns about the long-term impact of frequent ultra-fast charging on battery lifespan persist.

Real-world data and long-term studies will be essential to fully understand the effects of sustained megawatt charging on battery health and longevity.

However, the growing demand for EVs and the clear need for convenient and fast charging solutions present significant opportunities for companies like Exponent Energy and other players in the Indian EV ecosystem to innovate and expand.

The Indian government’s ongoing initiatives to promote EV adoption and the development of charging infrastructure provide a supportive environment for growth in this sector.  

Exponent Energy is entering a competitive global arena in the development of rapid and ultra-fast charging technologies. Established players like Tesla, Shell Recharge, ChargePoint, BP Pulse, EVgo, and Electrify America have already built significant charging networks and are continuously innovating in this space.

BYD’s recent foray into megawatt charging further intensifies the competition.

Additionally, companies like Kempower and Heliox are specializing in high-power DC fast-charging solutions for various EV segments. Within India, other companies like Tata Power and Ather Energy are also actively involved in developing and deploying EV charging infrastructure.

Exponent Energy’s focus on the Indian market, coupled with its unique integrated approach encompassing the battery, charger, and connector, could provide a distinct competitive advantage.

The future of rapid charging technology is likely to witness continued advancements, with research focused on achieving even higher power levels, developing battery technologies that can withstand faster charging rates without degradation, and creating more efficient and user-friendly charging infrastructure.   

In conclusion

In conclusion, Exponent Energy’s announcement of its 1MW rapid charging technology for buses and its upcoming 1.5MW technology for EVs marks a significant milestone in the evolution of electric mobility, particularly in India.

Their unique integrated ecosystem, utilizing standard Li-ion cells to achieve a 15-minute rapid charge and a 3000-cycle life warranty, positions them as a frontrunner in addressing the critical need for faster charging solutions.

As India strives to accelerate its transition to electric vehicles, Exponent Energy’s advancements have the potential to play a pivotal role in overcoming range anxiety, improving the practicality of EVs for commercial applications, and ultimately shaping the future of electric mobility in the nation.

Table 1: Comparison of Typical EV Charging Speeds