Exponent Energy Launches 'Exponent Oto' Retrofit for ICE Three-Wheelers

Exponent Energy, an energy-tech startup, has entered the vehicle retrofit market with the launch of 'Exponent Oto'. This innovative solution is designed to convert existing internal combustion engine (ICE) three-wheelers, currently powered by compressed natural gas (CNG) and liquefied petroleum gas (LPG), into fully electric vehicles (EVs).

The conversion process is completed within 24 hours. It involves removing all engine-related parts, including the engine block, gearbox, fuel tank, and exhaust system. These are then replaced with Exponent's proprietary technology: the Piccolo battery pack, the CX1 e^port rapid-charging interface, an electric motor, and the necessary drivetrain.

The 'CX1 e^port' interface allows for rapid charging, enabling retrofitted vehicles to achieve a full charge in just 15 minutes. Once charged, these electric three-wheelers can travel between 140 to 150 km on a single charge. They also demonstrate quick performance, accelerating from 0 to 30 km/h in under 4.5 seconds.

Exponent Energy is also providing attractive financial incentives to drivers, including options for zero down payment, flexible Equated Monthly Installments (EMIs), an assured buyback after three years, and projected savings of up to Rs 5,000 per month compared to operating vehicles on CNG or LPG.

Impact This initiative has a significant potential impact on accelerating EV adoption in India, particularly within the commercial three-wheeler segment. By offering a cost-effective and faster route to electrification than purchasing new EVs, Exponent could unlock a vast market of existing vehicles, thereby contributing to reduced emissions and lower operating costs for drivers. The company is already operating in Delhi-NCR, Bengaluru, Chennai, and Ahmedabad, with over 2,100 EVs using its technology and more than 150 charging stations. Exponent has secured $44.6 million in funding from investors including Lightspeed, Eight Roads Ventures, 3one4 Capital, and Hero MotoCorp's family office. Impact Rating: 7/10

Difficult Terms: - Retrofit: The process of updating or modifying existing equipment or vehicles with new technology or parts to improve performance or functionality. - Internal Combustion Engine (ICE): An engine that generates power by burning fuel inside a combustion chamber. - Three-wheeler: A vehicle with three wheels, commonly used for public transport and delivery. - CNG: Compressed Natural Gas, an alternative fuel for vehicles. - LPG: Liquefied Petroleum Gas, another alternative fuel for vehicles. - Piccolo battery pack: A compact, high-performance battery system developed by Exponent Energy. - CX1 e^port: Exponent Energy's proprietary rapid-charging interface. - Motor: An electric machine that converts electrical energy into mechanical energy. - Drivetrain: The system of components that deliver power from the motor to the wheels. - EMIs: Equated Monthly Installments, a fixed monthly payment for a loan.