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08 Jul 2023

Magenta, Altigreen & Exponent Partners To Deploy 15-minute Rapid Charging Tech

By News Date 08 Jul 2023

Magenta, Altigreen & Exponent Partners To Deploy 15-minute Rapid Charging Tech

Magenta Mobility has partnered with Altigreen Propulsion Labs and energy tech start-up Exponent Energy to roll out a 15-minute rapid charging Electric Vehicle fleet. The Altigreen neEV gets fully charged in 15 minutes, and Exponent's e^pump network, which is responsible for the development of the rapid charge technology, and by joining hands with Magenta, the brand aims to take the last mile logistics of India to the next level. And it also reduces the operational costs for businesses across the country. 

The founder and Director at Magenta Mobility, Maxson Lewis, said that through this partnership with Exponent and Altigreen, the company eyes set new standards for efficiency and a greener India. 

"By rapid charging in 15 minutes, we will be able to cross-utilize our fleet enabling us to save time and reduce our operational costs. This partnership exemplifies our commitment to electrifying and decarbonizing logistics in India by delivering innovative and sustainable e-mobility solutions," he added.

The company has completed a pilot of 3 months; Magenta, Altigreen, and Exponent are set to deploy 1000 Altigreen neEV Tez powered, which is powered by Exponent, for the next 12 months. 
The joint press release of this partnership said, "To support the fleet, Exponent has already installed 30 e^pumps across Bengaluru. New locations will be identified and e-pumps setup in other cities, allowing the EV fleets to conveniently charge on the go,"

This April, Electric Mobility Solutions provider Magenta closed a Series A1 round of $22 million in equity investment funding. This investment came from UK-headquartered bp and Morgan Stanley India Infrastructure-managed investment fund.

However, the Pune-Based company has 750 vehicles running in the last-mile delivery area across seven big cities - Bengaluru, Delhi, Mumbai, Hyderabad, Gurugram, Mysuru and Noida. These vehicles cater to the country's leading e-commerce, food and online delivery players. The brand operates 35 charging and parking stations in these cities.

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