Altigreen Propulsion Labs, the most prominent electric last mile commercial vehicle manufacturer, signs a partnership with a start-up company Exponent Energy and announces the fastest charging electric 3-wheeler that can charge the battery from 0-100 % within 15 minutes only.
Altigreen Propulsion Labs, a well-known manufacturer of commercial electric vehicles, and Exponent Energy, a Bengaluru-based start-up that makes energy for EVs simple, have teamed up to develop rapid charging for EVs.
The firms have launched the electric three-wheeler with the fastest charging time, which charges the battery from 0% to 100% in merely 15 minutes.
Talking more about the partnership, Arun Vinayak, Co-founder & CEO of 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 a 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. Altigreen’s engineering first approach gave us the confidence to work with them and made us realise they are the best partners for us. Hats off to engineers at both Exponent and Altigreen for making rapid charging not only a concept but a roadworthy reality in such a short period of time.”
The 8.19 kWh e-pack, an innovative battery manufactured by Arun Vinayak-led Exponent, is utilised in the neEV HD three-wheeler from Altigreen. The producer claims that it is made using conventional LFP cell chemistry. It is the first scalable and affordable rapid charging method as a result.
According to the firms, the vehicle has an 80-85 km (city driving range) range and charges in 15 minutes at Exponent’s e-pump network.
This is achieved by the e-pump providing the e-pack with 600A of current (15x the industry standard) while controlling the thermals of individual cells to ensure safety, prolonged battery life, and performance consistency even at temperatures as low as 50℃.
It was stated that Bengaluru would construct a rapid charging network of 100 e-pumps in the first quarter of 2023 and that additional cities would follow suit afterwards.
A new Rs 300 Cr investment spearheaded by Sixth Sense Ventures, Reliance New Energy, Xponentia Capital, and others has helped Altigreen quickly expand its R&D and manufacturing capabilities.
It has established a robust pan-Indian distribution network to offer the best and cleanest last-mile transportation. In addition, the Exponent’s 15-minute quick charging will be made available throughout India using the same method.
“Our focus has always been the driver; our endeavour is to surpass their expectations and that’s why we are industry leaders in driving range, ground clearance, volumetric load capacity, and vehicle speed,” Altigreen Propulsion Labs founder and CEO Amitabh Saran said in a statement.
Additionally, he claimed that because of our partnership with Exponent, we would be the fastest charging 3-wheeler, giving our customers flexibility and independence while also boosting their income.
Vinayak, co-founder and CEO of Exponent Energy, added: “With 15-minute rapid charging and a 3,000 cycle life warranty, our e-pack and e-pump make this possible. In addition, being cell agnostic allows us to grow much more quickly and take full advantage of the current manufacturing ecosystem that extensively produces LFP and NMC cells.
“Altigreen’s engineering first approach gave us the confidence to work with them and made us realise they are the best partners for us. Hats off to engineers at both Exponent and Altigreen for making rapid charging not only a concept but a roadworthy reality in such a short period of time,” he added.
Exponent Energy claimed that the solution had reached market maturity after six months of joint development and on-road testing with Altigreen. They list some achievements as driving more than 10,000 miles in 40 days and conducting five consecutive quick charge cycles on a vehicle for a 400-kilometre run.
Along with these sources of finance, Exponent also received $6 million from the Motherson Group, YourNest VC, 3one4 Capital, and Pushkar Singh, co-founder and CEO of LetsTransport.
Additionally, it has received an undisclosed payment from Pawan Munjal’s family office, the chairman and CEO of Hero MotoCorp, which just won permission from the Arbitration Tribunal that the Delhi High Court created to use the “Hero” brand for electric vehicles.
However, it is interesting that the government has provided plans for battery change and regulations for charging stations. These are two topics that many people frequently end up debating, outlining the advantages and disadvantages of each.
“I believe that there is a lot to be done on the fast charge side, because new cell chemistry is coming about and this whole price war is finally going to come down to uninterrupted mobility,” he noted.
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