By BullScreen Editorial Team 
Shares of Atul Auto Limited surged more than 10% on Friday after the company announced a strategic partnership with Exponent Energy to roll out 15-minute rapid charging electric three-wheelers.
The stock rose as much as 10.6% intraday to ₹523.8, before trimming gains to trade 4.91% higher by mid-morning. This came even as the NSE Nifty 50 declined 1.31%, highlighting strong investor interest in the development.
Under the agreement, the two companies plan to deploy at least 15,000 rapid-charging passenger electric three-wheelers over the next three years. The vehicles will integrate Exponent Energy’s proprietary technology platform, which enables a full charge in just 15 minutes claimed to be among the fastest globally for commercial EVs.
The platform combines battery packs, charging systems, and vehicle software into a unified architecture. It also offers a 3,000-cycle battery life and a warranty of up to 2 lakh kilometers, addressing key concerns around durability and operating costs in the commercial EV segment.
Atul Auto, headquartered in Rajkot, has a wide footprint across 25 states with over 300 sales outlets. The collaboration allows the company to strengthen its position in the fast-growing electric mobility market.
Exponent Energy, founded in 2020, is expanding its ecosystem beyond charging infrastructure by introducing financing solutions through its Exponent One platform, aimed at improving affordability and adoption.
The partnership signals a broader shift in the EV industry, where faster charging and integrated financing could accelerate large-scale adoption in last-mile mobility.