News Update

Exponent Energy collaborates With Park+ to set up 1,000 EV charging zones

• ByStartupStory     |    December 9, 2022

Exponent Energy, a start-up provider of energy for electric vehicles, today announced a partnership with Park+, a popular car-owner app, to roll out 1,000 charging stations across India by the end of 2023, beginning in Bengaluru.

Exponent will use the public parking spaces and real estate that Park+ has access to as part of this cooperation to build up EV charging stations, the business stated in a statement. These charging stations will be placed in high-demand car deployment hotspots and toward regions with a high EV usage rate. They will be jointly marketed as “Park+ EV Zones powered by Exponent.”

By using its battery pack, the e-pack, and charging station, the e-pump, Exponent Energy is reinventing EV charging and enabling exponent-enabled vehicles to receive a 15-minute full charge. Recently, Exponent and Altigreen Propulsion Labs announced a partnership to create the fastest-charging electric three-wheeler in the world.

“With our 15 minute full charge, we’ve already become the new standard for a flawless charging experience. Making finding an e-pump as simple as finding a gas station is the next stage. We hope to do precisely that with Park+ and its statewide network of structured parking spots, beginning with Bengaluru. On the same plot of land, rapid charging makes a much higher vehicle available. The e-pump network is significantly more profitable because more vehicles use more energy, according to Arun Vinayak, co-founder and CEO of Exponent Energy.

“Park+ has made deliberate efforts to collaborate with like-minded companies in order to support the Indian EV ecosystem. We are thrilled to cooperate with Exponent to provide a reliable battery charging network across India as part of this goal. We look forward to a long and fruitful partnership with Exponent. Exponent and Park+ users will now be able to find these “Park+ EV Zones powered by Exponent” to charge their battery packs within 15 minutes. 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, said Amit Lakhotia, Founder & CEO, Park.

Exponent has received funding from Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC, Motherson Group, and the family office of Pawan Munjal, chairman and CEO of Hero MotoCorp, totaling $18 million (about 148 crore) to date.

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