Magenta Mobility, Altigreen & Exponent Partner for 15-Minute Rapid Charging EV Fleet

Magenta Mobility, Altigreen & Exponent Partner for 15-Minute Rapid Charging EV Fleet

Magenta Mobility, an electric mobility and charging solutions provider, has joined forces with Exponent Energy, an energy-tech startup, and Altigreen Propulsion Labs, an electric commercial vehicle manufacturer. The partnership will see Altigreen’s neEV Tez powered by Exponent, that fully charges in fifteen minutes. This, along with Exponent’s e^pump network will empower Magenta to unlock higher utilisation and flexibility for last-mile logistics, says the firm.

Exponent Energy has built a battery pack named e^pack, charging station called e^pump and charging connector e^plug that together unlock a 15-minute full charge for EVs with any number of wheels and provide a 3000-cycle life warranty – all the while using affordable Li-ion cells to make rapid charging truly scalable.

After successfully completing a three-month pilot, Magenta, Altigreen and Exponent solidified the partnership and are set to for the deployment of a thousand Altigreen neEV Tez powered by Exponent over the next 12 months. To support the fleet, Exponent has already installed 30 epumps across Bengaluru. New locations will be identified and epumps setup in other cities, allowing the EV fleets to charge on the go.

Commenting on this partnership, Maxson Lewis, Founder & Managing Director at Magenta Mobility shared, “Through our partnership with Exponent & Altigreen, we are setting new standards for efficiency and convenience in last mile logistics. By rapid charging in 15 minutes, we will be able to cross-utilise 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.”

Talking about the partnership, Dr. Amitabh Saran, Founder & CEO, Altigreen said, “We are proud to be associated with the two stalwarts of the EV industry, and together pushing the boundaries of EV utilization. Altigreen’s neEV Tez demonstrates that EVs are not only more economical than their fossil-fuel counterparts, they can provide much increased earnings through 20-hr usage. Altigreen’s pan-India, EV only, dealership network will provide the Exponent powered neEV Tez for deployment by Magenta across India.”

Arun Vinayak, Co-founder, & CEO, Exponent Energy said, “Utilization is key for sustainable growth in last-mile logistics. The NeEV Tez and the e^pump network perfectly complement Magenta’s platform and infrastructure to revolutionize the last-mile segment. We enjoy a long-standing relationship with Altigreen built on a shared belief of producing the best EVs for users. We are thrilled about our partnership with Magenta for deploying vehicles on such a large scale across India and strategically integrating our e^ pump at different locations to enable 2X productivity and seamless operations.”

In April, Magenta Mobility concluded a Series A1 funding round, ringing in USD 22 million equity investment coming in from UK-headquartered bp and Morgan Stanley India Infrastructure-managed investment fund.

Bengaluru-based  Altigreen recently raised a Rs 300 Cr investment from Sixth Sense, Xponentia, Reliance New Energy, Accurant and Momentum.