Exponent ONE, an EV financing platform for commercial vehicles, has partnered with Montra Electric and Exponent Energy to launch ONE Pass, an Energy-as-a-Service offering for Montra Electric three-wheelers. It charges drivers per kilometre for battery usage and charging, and bundles this with a lifetime battery warranty under a single per-kilometre rate.
The companies say the model tackles a key barrier to commercial EV adoption: the higher upfront cost and fixed EMI. Driver-owners can buy a Montra Electric Super Cargo eQx or eQXd+ with a ₹39,999 down payment and a monthly EMI of ₹12,099 for 48 months. Battery usage and charging cost ₹3.20 per km, billed daily and capped at ₹12,000 a month. The rate is fixed for four years, so there is no inflation in energy costs, and drivers get access to Exponent Energy’s 15-minute rapid-charging network.
Mr. Sandeep Divakaran, Co-founder and CEO of Exponent ONE, said an electric three-wheeler can cost 25–30% more than a comparable CNG vehicle because of the battery. He said energy should be an operating expense, not a large upfront cost, and that drivers can now pay for energy by the kilometre, as they think about fuel.
Mr. Deependra Sharma, CEO of e-3W at Montra Electric (TI Clean Mobility), said the pairing gives customers a lower entry price, predictable operating costs and the confidence of a lifetime battery warranty.
Mr. Arun Vinayak, Founder and CEO of Exponent Energy, said its battery technology and rapid-charging network are built for high daily use.
