Launch · Mobility & Logistics

Exponent Energy launches retrofit tech for three-wheelers

By Startup Enthusiast · 7 November 2025

What they do

Exponent Energy makes electric vehicle components and charging stations

It launched 'Exponent Oto', a retrofit kit that converts petrol three-wheelers to electric in 24 hours

The retrofit costs about ₹1.7 lakh and can save drivers up to ₹5,000 per month on fuel and maintenance

Exponent Energy launched a retrofit technology called Exponent Oto.
The kit converts ICE (internal combustion engine) three-wheelers into electric vehicles.
The retrofit removes the engine, gearbox, exhaust, fuel tanks and wiring.
It installs Exponent's electric powertrain including the Piccolo battery pack and CX1 e^port rapid-charging interface.
The entire conversion is completed within 24 hours.
The retrofit costs approximately ₹1.7 lakh.
Financial incentives include zero downpayment, flexible EMIs and an assured buyback after three years.
The company targets converting 2 to 2.5 million auto-rickshaws across India's top 20 cities.

India has an estimated 8-10 million auto-rickshaws, most running on CNG or LPG.
Retrofitting existing vehicles is faster and cheaper than buying a new EV.
Drivers can save up to ₹5,000 per month on fuel and maintenance costs.
The battery is warranted for 5 years or 3,000 charging cycles.

Exponent Energy builds EV components and operates charging stations.
Its retrofit targets passenger three-wheelers currently running on CNG and LPG.
The system features IP67-rated water resistance, hill-start assist and IoT connectivity for GPS, diagnostics and real-time service alerts.
The company has deployed technology in 2,100 EVs on Indian roads.
It has established 150 charging stations.
It has completed over 1 million rapid charging sessions.
The company operates in Delhi-NCR, Bengaluru, Chennai and Ahmedabad.
Total funding raised: $44.6 million in Pre-series A, Series A and B rounds.

Lightspeed (investor)
Eight Roads Ventures (investor)
YourNest VC (investor)
3one4 Capital (investor)
AdvantEdge VC (investor)
Family office of Dr Pawan Munjal (investor) — Chairman & CEO of Hero MotoCorp

Product: Proprietary battery packs and rapid-charging stations that fully charge EVs in 15 minutes
Customers: Commercial EV fleet operators and transportation companies
How it makes money: Infrastructure deployment with financing solutions for fleet operators
What sets it apart: Uses standard lithium-ion cells with interoperable charging infrastructure
Operations: Operates charging stations across Indian cities with expandable network