Key Highlights
- Atul Auto enters into an MoU with Exponent Energy for electric three-wheelers.
- Order size stands at ₹490.50 crore including battery system and powertrain.
- Total volume commitment of 15,000 electric three-wheelers over three years.
- Vehicles to feature 15-minute rapid charging technology.
- Battery warranty offered up to 2,00,000 km.
- Atul Auto to act as OEM for manufacturing and supply.
- Agreement includes manufacturing, sales, servicing and customer support.
- Execution period is three years with an additional six-month extension option.
Atul Auto Limited has announced a strategic partnership with Exponent Energy Private Limited to manufacture and deploy electric passenger three-wheelers equipped with rapid charging technology. The collaboration marks a significant push into the commercial electric vehicle segment, with a total order size of ₹490.50 crore.
Under the agreement, Atul Auto will act as the original equipment manufacturer and will produce electric three-wheelers integrated with Exponent Energy’s battery systems and powertrain. The partnership includes end-to-end responsibilities such as manufacturing, supply, sales, servicing, and customer support.
The companies have committed to a deployment of 15,000 electric three-wheelers over a period of three years. The execution timeline will commence after receiving necessary approvals from state transport authorities, with an additional six-month extension available for completing the volume commitment.
The vehicles will be powered by Exponent Energy’s proprietary rapid charging technology, enabling a full charge in approximately 15 minutes. The system is designed for high-frequency commercial usage and comes with a battery life warranty of up to 2,00,000 km, addressing durability and lifecycle concerns in the segment.
Atul Auto will handle complete vehicle-level manufacturing operations, including integration of battery systems and powertrain, quality control, testing, and final delivery. The vehicles will be built on Exponent’s mobility platform, which supports interoperability with public and home charging infrastructure.
The collaboration is expected to strengthen Atul Auto’s position in the electric vehicle market while enabling faster adoption of EVs in the commercial three-wheeler category. The partnership also aims to improve operational efficiency for drivers through reduced charging time, higher vehicle uptime, and lower operating costs compared to conventional alternatives.
From a strategic standpoint, the agreement reflects growing momentum in India’s EV ecosystem, particularly in last-mile mobility solutions where rapid charging and high utilization are critical.