From left: Kunal Khattar, Founder, AdvantEdge Founders; Sandeep Divakaran, CEO & Co-founder, Exponent Energy; Arun Vinayak, CEO & Founder, Exponent Energy.

Bengaluru-based energy technology company Exponent Energy has unveiled Exponent One, a comprehensive fintech and asset management initiative designed to overcome a significant obstacle in commercial electric vehicle adoption: the challenge of securing practical and accessible financing. This new venture will be led by Sandeep Divakaran, an experienced professional in financing and mobility who joins as Co-founder and Chief Executive Officer.

Exponent Energy has established a comprehensive energy ecosystem for commercial EVs by tackling critical issues such as rapid charging, dependable battery performance and consistent operational uptime. This work has yielded deep, real-world energy intelligence within the commercial mobility sector. Although EV technology has progressed considerably, widespread adoption remains limited by financing hurdles. Exponent One directly confronts this issue with an advanced underwriting and asset management platform developed specifically for commercial EVs, drawing on the aforementioned energy insights. The primary goal is to achieve financing parity with internal combustion engine vehicles by providing flexible financial products and mitigating risk through assurances and buyback programmes.

By collaborating with established financial institutions, the new venture seeks to enable large-scale EV financing for commercial operators. Its focus will be exclusively on commercial electric vehicles, encompassing three-wheelers, light commercial vehicles, four-wheelers, buses and trucks. Support will extend to both individual driver-owners and fleet operators, covering the entire ownership journey from initial acquisition through lifecycle management to eventual upgrades. Leveraging Exponent’s energy intelligence, the platform employs an AI-driven adaptive financing model that facilitates access to livelihoods. It also integrates embedded insurance to protect against health and asset-related difficulties, while guaranteed buybacks help cultivate a robust secondary market, offering crucial reassurance to vehicle owners and financial partners. Additional features like savings options, supplementary loans and upgrade paths are intended to support drivers in their professional growth.

To accelerate its early deployment and broaden its footprint in key commercial EV centers, Exponent One has secured USD 2 million in pre-seed investment from AdvantEdge Founders, aiming to deliver its adaptive financing solutions to a greater number of driver-owners.

Sandeep said, “Commercial Vehicle driver-owners operate real-world businesses with daily variable earnings and limited buffers, yet lending models are still run on personal credit rails, with fixed monthly assumptions (EMIs). This rigid approach, focuses on only output metrics of timely payments, and hence fails the driver and leads to the ecosystem viewing commercial EV financing as risky. At Exponent One, we believe in something fundamental: if the driver-owner fails, the system fails. Our vision is to enable sustainable micro-entrepreneurship in electric mobility by building financing that adapts to real world earnings and not monthly averages, manages asset risk, provides buffers and gives drivers the confidence to switch and grow with EVs. Our adaptive lending model focuses on input metrics – asset quality, charging patterns, energy consumption – giving us the ability to differentiate between bad luck and bad intent and help support driver-owners through their circle of life.”

Arun Vinayak, Founder and CEO, Exponent Energy, said, “Energy in EVs is an upfront capex problem, hence viable-financing products are needed to transform this higher capex to meaningful opex benefits to the driver-owners. Electric Commercial Vehicles are fundamentally energy assets. Our ability to influence battery life and manage them on a daily basis with real-time energy data gives us an edge in understanding these assets better and in knowing their residual value. EVs are digital, earnings are digital and the energy stack with Exponent is digital, and all these input metrics, layered with innovations in AI tech, enhances our ability to contextually underwrite and support the driver-owners through their circle of life. This is a first of its kind partnership, with energy and financing coming together to provide integrated adaptive finance and asset management solutions. We’re excited to have Sandeep lead this effort to build the financial layer needed to address the commercial EV financing gap. Together, Exponent Energy will power the assets and Exponent One will power the driver-owner.”

Kunal Khattar, Founder, AdvantEdge Founders, said, “Commercial EV scale in India isn't just a technology challenge; it's a data and capital challenge. Lenders must understand how these assets actually earn and age to unlock true scale. At AdvantEdge, we’re backing Exponent One because they’ve replaced ICE-era assumptions with real-time operational intelligence, aligning financing with daily earnings and long-term asset performance. By building a durable financial layer tailored to the EV ownership lifecycle, they are addressing the core risk mismatches that have held this industry back. We believe this is the missing piece that will finally move electric fleets from pilot to mass adoption.”

Vietnamese conglomerate Vingroup has signed a memorandum of understanding (MoU) to invest USD 6.5 billion in Maharashtra over the next two years said media reports.

The agreement, signed with the state industries department and the Mumbai Metropolitan Region Development Authority (MMRDA), covers sectors including electric mobility, renewable energy, tourism and infrastructure.

The investment is planned across 5,000 acres in the Mumbai Metropolitan Region and other locations. The project is expected to generate approximately 24,700 direct jobs.

Key components of the investment include:

Smart Townships: An integrated, eco-friendly township spanning 2,700 acres designed for a population of two lakh.

Electric Mobility: Launch of electric taxi services and a mobility-as-a-service platform, supported by a statewide EV charging network.

Renewable Energy: Development of a 500 MW solar power project.

Tourism and Entertainment: A theme park, zoo, and safari project set across 865 acres.

Social Infrastructure: Establishment of international schools and multi-speciality hospitals.

The state government highlighted that advanced interconnectivity and scalable bandwidth in data centres will assist in the implementation of government schemes. These technical improvements are intended to prevent system failures during periods of heavy online traffic, particularly for agricultural and public application processes.

Devendra Fadnavis, Chief Minister of Maharashtra, said, "It is a matter of pride that Vingroup has chosen Maharashtra at a time when the state is witnessing rapid growth. Mumbai and the Raigad region are poised to emerge among the most dynamic urban clusters globally. The investment by the Vietnamese conglomerate would accelerate sustainable development, green energy adoption, modern infrastructure and dynamic mobility systems in the state."

French automotive major Renault Group has announced the unification of its electric vehicle charging activities and related services under the single brand name – Plug Inn. Replacing the previous operations managed under Mobilize Beyond Automotive, the new brand is intended to simplify the Group's charging ecosystem as electric mobility scales across Europe.

The consolidation brings three core divisions under the new banner:

• Plug Inn Fast Charge: An ultra-fast charging network featuring stations with power outputs up to 320 kW.
• Plug Inn Powerbox: A bidirectional charging solution integrated with vehicle-to-grid (V2G) services.
• Plug Inn Charge Pass: A payment solution providing access to charging infrastructure throughout Europe.

The name change commences with fast-charging stations in France this April, with other services transitioning by the end of the year.

The network currently allows compatible vehicles to recover 400 km of range in approximately 15 minutes. Renault Group has set a target to operate 93 stations by end-2026. These stations are primarily located at Renault dealerships near major road axes and are accessible to electric vehicles from all manufacturers.

Facilities at these sites include 24x7 maintenance, Plug & Charge compatibility and selected premium lounges equipped with Wi-Fi and workspaces. The Group reports a network reliability rate exceeding 99 percent.

Jerome Faton, VP Customer Experience & Energy, Renault Group, said, “Our priority is to simplify every step of the electric experience for our customers by offering them a reliable, clear and scalable charging ecosystem. With Plug Inn, we are setting a structuring milestone: an infrastructure designed to support, on a large scale, the ramp-up of zero-emission mobility in Europe. Beyond a change of name, Plug Inn embodies a strong industrial and technological ambition: to create a reference standard, harmonise the charging experience, and support the acceleration of electric vehicles by focusing on service quality, transparency and trust. This is how we will help make the transition to all-electric mobility a simple, seamless and accessible reality for everyone.”

Trev Mobility, an electric vehicle (EV) mobility platform, has raised INR 36.5 million in an angel funding round from its existing user base. The company intends to utilise the capital to increase its vehicle fleet and scale operations across the Delhi-NCR region, including Gurgaon, Noida, Faridabad and Ghaziabad.

Launched in January 2024, the platform operates a fleet of 100 EVs featuring models from BYD and MG Motor. The company provides services for airport transfers, rentals and outstation travel, reporting that 75 percent of bookings are processed through its mobile application.

It has completed over 45,000 trips, with a claimed 55-60 percent repeat user rate. Its all-electric vehicle fleet focusses on premium chauffeur services.

The start-up has also integrated AI-powered dashcams for in-ride security and driver accountability.

The funding follows a period of growth in India's electric mobility sector. Trev Mobility positions itself at the intersection of luxury and accessibility, focusing on vehicle maintenance and hospitality standards. The company's strategy involves expanding into urban use cases as national EV adoption increases.

Naveen Gupta, Founder, Trev Mobility, said, “Seeing our own customers invest in Trev is a powerful validation of the trust we’ve built and the experience we deliver every day. This funding allows us to double down on our core strengths – immaculately maintained vehicles, high standards of hospitality, and a reliable, premium ride experience. Our goal is to build a service that feels less like a cab and more like your own personal car. With 100 EVs now on the road, 4 cities covered, and 40,000 rides delivered, we are just getting started on our mission to make premium electric mobility accessible to every Indian commuter.”

PeakAmp, a battery circularity and resource recovery firm, has entered into a partnership with Pacto Power to manage battery waste across its operations. The agreement focuses on the collection, logistics and recycling of units, alongside ensuring Extended Producer Responsibility (EPR) compliance.

Under the terms of the partnership, PeakAmp serves as the exclusive partner for end-to-end battery waste movement. The collaboration aims to transition battery waste through authorised channels to improve material recovery and reduce leakage into informal networks.

The key areas of collaboration include establishing systems for the documented movement and disposal of battery waste for traceability. Second-life applications by developing uses for batteries beyond their initial vehicular or industrial lifespan. Research into new lithium-ion battery production.

The partnership reflects a shift in the sector towards integrating traceability into waste management systems as battery volumes increase.

Aditya Sudhanshu, Co-Founder & COO, PeakAmp, said, “As battery usage continues to grow, it becomes important to manage battery waste in a responsible and compliant way. Our partnership with Pacto Power helps us ensure smooth collection, recycling, and compliance management across the entire battery lifecycle. We look forward to building a more transparent and efficient battery waste ecosystem together.”

Manoj Kushwaha, Director, Pacto Power, added, “Partnering with PeakAmp marks an important step in strengthening our commitment to responsible and compliant battery lifecycle management. As we continue to scale our operations, ensuring proper handling of battery waste and meeting EPR obligations becomes critical. PeakAmp’s structured approach to collection, recycling, and compliance will help us build a more transparent, efficient, and sustainable system. We also see strong potential in collaborating on second-life applications and advancing lithium-ion battery innovation together.”