Altigreen enters into partnership with Exponent Energy to hasten EV cars in India

Electric commercial vehicle maker Altigreen has entered into a partnership with Exponent Energy to make rapid charging a reality for eCVs on Indian roads.

The two companies unveiled the fastest charging electric 3-wheeler that rapidly charges from 0-100% battery capacity within 15 minutes. The Exponent Enabled Altigreen new EV HD has an 8.19 kWh e^pack – a proprietary battery by Exponent. The vehicle delivers a city drive range of 80-85 kms and charges up in 15 minutes at Exponent’s e^pump network.

Amitabh Saran, Founder & CEO, Altigreen Propulsion Labs, said, “This partnership with Exponent will now make us the fastest charging 3-wheeler that offers flexibility and freedom to our customers, and helps them earn even more.”

Bengaluru-based Altigreen – which raised Rs 300 crore in Series A round earlier this year – has developed an electric 3-wheeler, using a locally made mobility platform. The nine-year-old company has 26 global patents spanning 60 countries, as per the statement.

Arun Vinayak, Co-founder & CEO, Exponent Energy said, “For all of India to go electric, EVs need to charge faster and last longer. Our e^pack & e^pump make this possible with 15-minute rapid charging and 3000 cycle life warranty (a new industry standard). By being cell agnostic, we can leverage the existing manufacturing ecosystem that produces LFP and NMC cells extensively, and scale much faster.”

Exponent Energy is ramping up its e^pack production and setting up 100 e^pumps across Bengaluru in its first leg. Other cities will follow, in association with Altigreen.

Overall, Altigreen is targeting to have 3-5 vehicles in its portfolio in the next 2-3 years. It aims to increase manufacturing capacity to 40,000 units per annum in the next six months, start selling in 60 cities in 15 months from a dozen cities now, Saran said.

The Indian government has been undertaking a slew of measures over the last couple of years to accelerate the shift to e-mobility to curd crude imports and emissions. Former Niti Aayog chief executive Amitabh Kant had earlier told ET that in the next two years, all urban delivery vehicles must go completely green. Given the rapid growth in ecommerce — accelerated now by the pandemic — as many as 8 million vehicles are expected to be on the road in the urban delivery segment alone by 2030.