Launch · Mobility & Logistics

Exponent Energy completes 200 EV retrofits in Bengaluru

By Startup Enthusiast · 22 September 2026

What they do

Exponent Energy retrofits old petrol, LPG, and CNG three-wheelers into electric vehicles

It completed 200 retrofits of passenger three-wheelers in Bengaluru within 3-4 months of installations

The company captured about 20% of Bengaluru's new electric passenger three-wheeler market

Exponent Energy completed 200 EV retrofits of passenger three-wheelers in Bengaluru.
The retrofit offering, called Exponent Oto, was launched in November 2025.
Customer installations began in March 2026 after certification and regulatory approvals.
The 200-vehicle milestone was reached within 3-4 months of installations.
The retrofit vehicles collectively covered about 1.5 million km and completed 25,000 charging sessions.
Exponent captured about 20% of Bengaluru's new electric passenger three-wheeler market (new plus retrofit).
The company adds 50-60 retrofit vehicles per month.

India's top cities have about 40 lakh three-wheelers, offering a large retrofit market.
Exponent targets converting 1% (about 40,000 vehicles) over the next couple of years.
Customer referrals contribute about 30-40% of the monthly pipeline.
The company does not plan to become an OEM; it will focus on battery, charging, and mobility technology.

Exponent retrofits older petrol, LPG, and CNG passenger three-wheelers, including vehicles as early as 2011.
Drivers pay about ₹10,000 upfront; remaining battery and charging costs are a monthly energy payment.
LPG users normally spend over ₹15,000/month; the retrofit solution costs about ₹10,000-11,000/month.
Drivers can save about ₹4,000-5,000/month from the first month.
The full equipment cost if paid upfront is about ₹1.6 lakh.
Maintenance savings are about ₹2,000/month by eliminating clutch and gearbox.
Retrofit vehicles use Exponent's battery and charging technology, supported by a 15-minute fast-charging network.
Exponent has about 90 live charging stations in Bengaluru, expects to reach 100, with chargers roughly every 3 km.
The company has 6 stores and plans to add 3-4 more, established by autorickshaw ecosystem members.

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