With the help of Exponent Energy, a provider of fast-charging technology, Altigreen, a Reliance-backed electric three-wheeler (E3W) brand, claims to be the fastest E3W provider in the quickly expanding EV market.
According to reports in the Economic Times and Business Standard, Altigreen would introduce Exponent Energy’s fast-charging technology, enabling Altigreen’s E3Ws to fully charge an 8.19 kWh battery from zero to one hundred percent in under 15 minutes and reach a driving range of 80–85 kilometers.
According to Altigreen’s founder and CEO, Amitabh Saran, Exponent’s technology has enabled them to become the fastest charging E3W player, giving their business customers on the go greater freedom and money. The FAME II plan in India has authorized products from Altigreen, whose backers include Reliance New Energy, Sixth Sense Ventures, and Xponentia Capital.
According to reports, Altigreen plans to increase its annual production capacity to 40,000 units in the next six months, increase its product portfolio to three or more in the next two to three years, and develop a pan-India distribution network that will also be used to spread the advantages of Exponents’ fast charging network throughout India.
In the meantime, Vinayak and Sanjay Byalal Jagannath, the former head of hardware strategy sourcing and cell strategy at Ather Energy, co-founded Exponent Energy. The CEO and Chairman of Hero MotoCorp, Pawan Munjal, as well as Motherson Sumi Systems are investors in Exponent Energy.
Exponents Energy offers the e-pack, which has a warranty of 3,000 charge cycles and a low rate of capacity degradation, and the e-pump, which can deliver up to 600 amps of current to the e-pack while controlling the characteristics of individual cells to ensure safety, a long battery life, and consistent performance even at 50 degrees Celsius.
Commercial vehicles that carry both people and goods dominate the E3W market in India. More than the combined registrations for electric two-wheelers and four-wheelers since 2017—nearly 800,000 units. Fast charging technology can be used by commercial customers to shorten charging wait times and increase income.
The Indian government, on the other hand, is encouraging interchangeable swapping systems to hasten the adoption of EVs. In an effort to lower the cost of finished goods, India’s finance ministry stated in July that the value-added tax on electric vehicles without batteries will be reduced. According to Kavan Mukhtyar, automotive partner at PwC India, battery switching is now a quick alternative to fast charging.
