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, of 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, of Hero MotoCorp.