India : Exponent ONE, the EV financing platform for commercial vehicles, has partnered with Montra Electric and Exponent Energy to launch ONE Pass, an Energy-as-a-Service (EaaS) offering for Montra Electric three-wheelers. ONE Pass introduces a fully variable, pay-per-kilometre model for battery usage and charging costs. It brings usage-based payments and a lifetime battery warranty together under a single per-kilometre rate.
The model addresses a key barrier to commercial EV adoption: the higher fixed EMI and the upfront cost of ownership. By lowering the initial investment and linking energy expenses to vehicle usage, ONE Pass aims to make electric vehicles accessible to more driver-owners without adding a large fixed EMI.
Driver-owners can get 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/km, billed daily and capped at ₹12,000 per month, with access to Exponent Energy’s 15-minute rapid-charging network and a fixed per-kilometre rate for four years. The lifetime battery warranty adds another layer of assurance for driver-owners. Additionally, ONE Pass users have fixed energy costs for 4 years – no inflation in energy costs.
Exponent Energy brings the battery technology and rapid-charging infrastructure, while ONE Pass combines flexible, usage-based energy costs with a lifetime battery warranty, giving driver-owners greater financial flexibility and peace of mind over battery life.
“The upfront cost of an electric three-wheeler can be around 25%-30% higher because of the battery, often resulting in a higher down payment and fixed EMI than a comparable CNG vehicle. We believe energy should be an operating expense, not a large upfront capital cost. With ONE Pass, driver-owners pay for energy the way they already think about fuel: by the kilometre. This can bring electric three-wheelers within reach of drivers who can afford a CNG vehicle today, while making their energy costs variable with usage.” — Sandeep Divakaran, Co-founder & CEO, Exponent ONE
For Montra Electric, the partnership connects its vehicle offering with an energy and ownership model tailored to commercial operators.
“We are happy to partner with Exponent One and Exponent Energy. By bringing ONE Pass to our customers, we aim to facilitate them to run their vehicles over longer operating cycles, and make every rupee count. The Montra Electric Super Cargo is built to keep up with them, from the first morning delivery to the last trip home. Montra Electric vehicles paired with ONE Pass, gives customers a vehicle with a lower entry price, predictable operating costs and the confidence of a lifetime battery warranty. This is more than a new vehicle offering. It is a revolutionary initiative that makes sustainability accessible to everyone, from the driver who is ready to go electric to the fleet that is building its future. With the current volatility in global energy costs, electric mobility is gaining ground.”- says Mr. Deependra Sharma, CEO, e-3W, Montra Electric (TI Clean Mobility)
“Commercial vehicles need energy systems designed around the way they work every day. Our battery technology and 15-minute rapid-charging infrastructure are built to keep vehicles moving and support high daily utilisation. With ONE Pass, that energy ecosystem is made a lot more accessible, with lower upfront costs and a fully flexible pay as you go energy package.” — Arun Vinayak, Founder & CEO, Exponent Energy
ONE Pass reflects Exponent ONE’s broader approach to commercial EV financing: building financial models around the realities of how driver-owners work and earn. Through this partnership, the companies aim to make commercial electrification more viable by bringing together vehicles, energy technology and flexible financing.
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