Atul Auto shares rallied nearly 10% in early trade on April 24 after the company announced a strategic partnership with Exponent Energy to develop rapid charging electric three-wheelers.
The stock was trading at ₹520.45, up ₹46.90 or 9.9%, with strong buying interest visible in early deals. The rally comes after the company disclosed plans to jointly build and deploy what it termed as the world’s fastest charging ecosystem for commercial electric vehicles.
Under the agreement, Atul Auto and Exponent Energy will collaborate to launch passenger electric three-wheelers capable of 15-minute rapid charging. The companies have also committed to deploying a minimum of 15,000 Exponent-powered vehicles over the next three years, marking one of the largest scale-ups in the segment.
As part of the collaboration, Atul Auto’s vehicles will be integrated with Exponent Energy’s e^pack platform, which combines battery technology, powertrain systems, and vehicle software into a unified architecture. The platform, already proven in retrofit deployments, will now be extended to OEM-integrated vehicles through this partnership.
The companies highlighted that the charging ecosystem will be interoperable and compatible with public and home charging infrastructure, offering flexibility to users. Exponent’s proprietary technology enables 0–100% charging in 15 minutes, which the company claims is the fastest globally for commercial EVs, along with a 2 lakh km warranty.
Additionally, Exponent Energy’s financing platform, Exponent One, will support the rollout by offering financing solutions, including embedded insurance and buyback options, aimed at improving affordability and adoption.
Commenting on the partnership, Arun Vinayak, CEO and Founder of Exponent Energy, said the collaboration will combine rapid charging, financing access, and proven vehicle platforms to address key barriers to EV adoption at scale.
Neeraj Chandra, Managing Director of Atul Auto, added that the partnership will bring cutting-edge rapid charging technology to the company’s product portfolio, enhancing value for customers while accelerating its transition towards electric mobility.
The development is being seen as a significant step for Atul Auto as it strengthens its presence in the fast-growing electric three-wheeler segment and aligns with the broader industry shift towards sustainable mobility.