This EV energy startup partners Park+ to set up 1,000 rapid EV charging stations

EV energy startup Exponent Energy has partnered with Park+ to install 1,000 fast charging stations for electric vehicles (EVs) across the country by the end of next year, starting with Bengaluru. With this partnership, Exponent will be able to build a dense e-pump network by leveraging the real estate and public parking spaces accessible to Park+. With this, both the companies aim to eliminate range anxiety for EV owners.

These charging stations will be deployed across high-demand hotspots and in regions where EV usage is high. The charging stations being set up under this scheme claim to fully recharge an EV in just 15 minutes. “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," said Arun Vinayak, Co-founder and CEO, Exponent Energy.

With such initiatives, Exponent Energy aims to redefine EV charging by solving the two-sided energy problem through its battery pack, which it says delivers a 15 minute full charge on exponent enabled vehicles. Recently, the company also announced the world's fastest-charging electric three-wheeler in a partnership with Altigreen Propulsion Labs.

The company has raised $18 million so far from Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC, Motherson Group and the family office of Pawan Munjal, Chairman, and CEO, Hero MotoCorp. “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," said Arun Vinayak, Co-founder, and CEO, Exponent Energy.