Bengaluru, April 24, 2026: Atul Auto Limited has entered into a strategic partnership with Exponent Energy to develop and deploy rapid-charging electric passenger three-wheelers, with a commitment to roll out 15,000 vehicles over the next three years. The collaboration aims to combine Atul Auto’s manufacturing scale with Exponent Energy’s fast-charging technology to accelerate the adoption of electric mobility in India’s commercial three-wheeler segment.
Under the partnership, Atul Auto’s vehicles will be integrated with Exponent’s OTO three-wheeler mobility platform, which brings together battery systems, powertrain components, and vehicle software into a unified architecture. Initially proven in retrofit deployments, the platform will now be extended to OEM-integrated vehicles.
A key highlight of the partnership is Exponent’s proprietary rapid-charging technology, which enables a full charge in just 15 minutes—positioned as one of the fastest charging solutions globally for commercial EVs. The system is supported by a warranty of up to 2 lakh kilometres, addressing concerns around battery life and long-term reliability. The platform is designed to be interoperable, allowing vehicles to charge not only on Exponent’s network but also via standard public and home charging infrastructure, offering flexibility to drivers.
Improved Economics for Drivers
The companies said the new electric three-wheelers are expected to deliver better earnings for drivers through reduced downtime, higher vehicle availability, and lower operating costs compared to conventional EVs.
In addition, Exponent Energy’s recently launched EV financing platform, Exponent One, will support adoption by offering financing solutions bundled with insurance and structured buyback options, aimed at improving affordability.
Management Commentary
Arun Vinayak, CEO and Co-founder of Exponent Energy, said the partnership brings together rapid charging, financing access, and scalable vehicle platform technology. He emphasized that addressing real-world barriers such as charging time and upfront cost is key to accelerating EV adoption.
Neeraj Chandra, Managing Director of Atul Auto, noted that the collaboration aligns with the company’s strategy to expand its electric mobility portfolio while enhancing value for customers through advanced technology.
Company Background
Atul Auto is one of India’s established three-wheeler manufacturers, with operations across 25 states, a network of over 300 dealers, and exports to more than 20 countries. The company has over one million vehicles on the road and reported a turnover exceeding ₹600 crore in FY25.
Exponent Energy, founded in 2020 and based in Bengaluru, is a full-stack energy company focused on enabling rapid charging for commercial EVs. Its technology platform integrates battery packs, charging infrastructure, and connectors to deliver fast and reliable charging solutions. The company has raised over $44 million from investors including Lightspeed, TDK Ventures, and others.
Outlook
The partnership marks one of the largest planned deployments of rapid-charging electric three-wheelers in India and is expected to play a significant role in scaling EV adoption in last-mile passenger transport.