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Indian startup develops new tech allowing EVs to fully recharge in 15 minutes

Highlights

  • The company wants to achieve this feat by using a specially designed battery and charger
  • Exponent earlier unveiled the world’s fastest charging electric three-wheeler this month
  • The startup has just raised $13 million in the latest round of funding

Exponent Energy, a Bengaluru-based startup, has announced a new battery technology, including a charger, which allows EVs to be recharged from 0 to 100% in only 15 minutes. The firm secured $13 million in funding this week, aided by venture capital company Lightspeed, and some of Exponent’s institutional investors such as YourNest VC, 3one4 Capital, and AdvantEdge VC.

The rapid charging speeds are achieved using a combination of the company’s charger and battery, known as the e^pack and e^pump, respectively. Exponent Energy aims to raise more capital in future fundraising rounds.

Also Read: Komaki reveals fire-resistant battery for its electric scooters

“This team, with their drive and innovation, has made rapid EV battery charging possible in just 15 minutes. We are confident that the technology is a real breakthrough, allowing EVs to become ubiquitous, one of the partners at Lightspeed, Harsha Kumar said.

Fastest charging electric three-wheeler launched this month

Exponent Energy intends to branch out its network to 100 locations in each city, beginning with its home city of Bangalore. In related news, Exponent and Altigreen teamed up for the launch of the Altigreen NeEV HD electric three-wheeler a few weeks ago. This vehicle is capable of recharging from 0 to 100% in 15 minutes, leveraging an 8.19 kWh e^pack and the e^pump. Interestingly, the company offers a 3,000-cycle life warranty on the battery.

“By being cell agnostic, we can leverage the existing manufacturing ecosystem that produces LFP (lithium ferro-phosphate) and NMC (nickel manganese cobalt) cells extensively, and scale much faster,” said Arun Vinayak CEO and co-founder of Exponent Energy, on the occasion of the launch this month. While the NeEV HD was announced a few weeks ago, it will begin reaching customers only in October, as per the company.

Via: News18

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