Exponent Energy, an energy-tech startup that has unlocked a 15-minute full charge for electric vehicles (EVs), has formed a partnership with Alt Mobility, a commercial fleet leasing and lifecycle management platform. The partnership, which aims to redefine the future of the EV industry and foster widespread adoption, will lease 1,000 Altigreen neEV Tez electric 3-wheelers powered by Exponent.
Alt Mobility said that its platform offers full-stack integrated fleet lifecycle management including leasing, insurance, and service management to maximize fleet uptime and lower operating costs, thus providing the lowest total cost of ownership for fleet partners.
Dev Arora, CEO and Co-founder of Alt Mobility, in a statement, said: “Our data-driven asset underwriting, continuous fleet monitoring and management is driven towards improving asset bankability, prolonging asset life with the ultimate objective to reduce the cost of financing and maximizing asset resale value.”
Exponent has tackled significant obstacles in the adoption of EVs by addressing financier confidence issues arising from poor battery health data availability and low productivity due to long charging times. This has resulted in a remarkable 5-year financing term (from the industry standard of 3 years) and a 30 percent reduction in monthly EMIs, enhancing accessibility and affordability in the EV market.
Arun Vinayak, CEO and co-founder of Exponent Energy, said: “We are excited to join forces with Alt Mobility to bridge the gap between technology and financing. Their exceptional full-stack leasing and lifecycle management platform is helping break down barriers hindering the rapid adoption of EVs.”
Exponent Energy, led by Arun Vinayak and Sanjay Byalal, has developed a battery pack, charging station, and charging connector that together unlocks a 15-minute full charge for EVs with any number of wheels.
Alt Mobility, on the other hand, is a full-stack fleet leasing and lifecycle management platform that enables the transition of urban logistic fleets to connected and intelligent electric vehicles. The company has developed an integrated FleetOS platform for complete lifecycle management of electric fleets.
(Edited by : Pradeep John)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM