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.”

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.”

Ultraviolette, the Bengaluru-based electric vehicle manufacturer, has announced a strategic alliance with Elektrorider, appointing the firm as its official importer and distributor for Hungary and the Danube region. The agreement covers six markets – Hungary, Croatia, Slovakia, Romania, Slovenia and the Czech Republic, expanding Ultraviolette’s European footprint to 19 countries.

Under the partnership, Ultraviolette will introduce its performance electric motorcycles, the F77 MACH 2 and F77 SuperStreet, to Central Europe. The expansion utilises Elektrorider’s existing retail infrastructure in electric motorcycles, scooters and e-bikes.

Narayan Subramaniam, CEO & Co-Founder, Ultraviolette, said, “We are excited to partner with Elektrorider to introduce the Ultraviolette brand in Hungary and Central Europe. This alliance marks a pivotal milestone in our global expansion as Ultraviolette moves beyond India into some of the world’s most discerning motorcycling markets. With a strong foothold already established across 12 European countries, Ultraviolette is poised to accelerate worldwide growth following successful launches in these demanding countries. To riders across Hungary and Central Europe, we seek to bring Aviation based design, unmatched capability and performance, along with future-forward technology that redefine the motorcycling experience with every Ultraviolette ride. Guided by this vision, we are confident that this partnership will establish a world-class Ultraviolette ecosystem, right from product experience to aftersales support. This is only the beginning, and we are excited and confident of the journey ahead.”

Attila Pavuk, COO, Elektrorider, added, “We are equally excited and proud to introduce Ultraviolette to Hungary and the Central European market and go ballistic with the brand’s both visually striking and technologically cutting-edge performance motorcycles. At Elektrorider we represent a lifestyle built around performance, freedom, adventure, and reliability. With deep roots in the CEE market, we combine data-driven insight with real riding experience; we don’t guess but listen and analyse. We understand this region because we live here, ride here, and build meaningful partnerships with brands that share the same high standards, such as Ultraviolette. To motorcycle enthusiasts throughout Hungary and Central Europe, this alliance merges India’s high-tech offer, bold design, exceptional capability, and forward-looking technology with European riding expectations that elevate the electric experience to the next level. With this vision at the core of our partnership, this marks the start of an exciting journey, and we couldn’t be more enthusiastic about what lies ahead.”

Japanese automotive company Mitsubishi Motors Corporation has announced its intention to participate in the Philippine government’s Electric Vehicle Incentive Strategy (EVIS). The plan was discussed during a meeting between President Marcos and Takao Kato, Chief Executive Officer of Mitsubishi Motors.

Subject to application approval, Mitsubishi Motors Philippines Corporation (MMPC) intends to commence production of a new hybrid electric vehicle (HEV) model at its facility in Santa Rosa City, Laguna, with production scheduled to begin in mid-2028.

To facilitate this transition, MMPC will undertake additional investments to upgrade its manufacturing facilities for electrification. The company expects these initiatives to expand the local supply chain and create employment opportunities within the Laguna region.

Takao Kato, CEO, Mitsubishi Motors, said, “The Philippines has long been one of our most important markets, where we have engaged in production and sales for many years. In cooperation with the Philippine government, we are honoured to contribute to the advancement of vehicle electrification and industrial development through the EVIS program, as well as to support the further growth of the Philippine economy.”

Tesla has announced the commissioning of its first in-mall charging location at Nexus Seawoods in Navi Mumbai. This site provides eight chargers, expanding the company’s charging infrastructure to locations where customers spend time, such as retail destinations and highway rest stops.

The new station, located in the B1 parking area of the mall, features a combination of direct current (DC) and alternating current (AC) charging options:

V4 Superchargers: Four units providing peak charging speeds of 250 kW. A Model Y can add up to 275 km of range in 15 minutes using this technology.

Destination Chargers: Four units providing 11 kW for standard AC charging.

The charging process is integrated with the Tesla app, which allows owners to navigate to stations, precondition vehicle batteries, monitor stall availability, and complete payments. The company reports a claimed global charging uptime of 99.95 percent.

With the addition of the Navi Mumbai site, Tesla now operates five charging locations across India, totalling 20 Superchargers and 14 Destination Chargers.