Exponent ONE has introduced a new pay-per-kilometre energy plan for Montra Electric cargo three-wheelers, aiming to make electric commercial vehicles more affordable for drivers and small fleet operators. The initiative, called ONE Pass, has been launched in partnership with Montra Electric and Exponent Energy. It combines battery usage and charging expenses under a single usage-based payment model.
Under the new plan, eligible customers can purchase the Montra Electric Super Cargo eQx or eQXd+ with a down payment of ₹39,999 and a monthly EMI of ₹12,099 for 48 months. Battery usage and charging are charged separately at ₹3.20 per kilometre, with daily billing and a monthly cap of ₹12,000. The per-kilometre energy rate will remain fixed for four years, while the package also includes a lifetime battery warranty for eligible vehicles.
ONE Pass Aims to Reduce EV Ownership Costs
The new offering addresses one of the major challenges facing electric commercial vehicle adoption: the high initial purchase cost. Electric three-wheelers can cost approximately 25%–30% more upfront than comparable vehicles because of their battery expenses, according to Sandeep Divakaran, co-founder and CEO of Exponent ONE.
With ONE Pass, customers do not have to bear the full battery cost upfront. Instead, energy expenses are linked to the distance travelled, allowing drivers to pay according to vehicle usage. This approach could help commercial operators manage their finances more effectively, particularly those whose daily earnings depend on deliveries and goods transportation.
The model separates vehicle financing from battery usage and charging expenses, offering an alternative to conventional ownership structures. The fixed energy rate for four years is also intended to improve cost predictability for businesses operating electric cargo vehicles.
Access to 15-Minute Rapid-Charging Infrastructure
Another key feature of ONE Pass is access to Exponent Energy’s 15-minute rapid-charging network. Fast charging can be particularly useful for commercial vehicles that operate for extended hours and need to minimise downtime between deliveries.
Exponent Energy will provide the battery technology and charging infrastructure supporting the programme. Exponent ONE will manage the financing structure and usage-based energy payments, while Montra Electric will supply the eligible cargo three-wheelers.
The partnership combines vehicle technology, charging infrastructure and financing into a single ownership proposition. For operators who depend on consistent vehicle availability, the model is designed to make charging more convenient while reducing the initial financial commitment.
Montra Electric Expands Its Commercial EV Offering
Montra Electric, part of TI Clean Mobility, sees the partnership as an opportunity to make electric cargo vehicles accessible to more customers. According to Deependra Sharma, CEO of e-3W at Montra Electric, the initiative aims to lower entry costs and provide greater predictability in operating expenses.
Exponent Energy founder and CEO Arun Vinayak highlighted the importance of developing battery systems and charging infrastructure suited to commercial vehicles with high daily utilisation. The ONE Pass programme extends access to this ecosystem through a pay-per-use energy package.
The launch also reflects Exponent ONE’s broader strategy of developing financing solutions around the earnings patterns and operational requirements of commercial EV drivers and small fleet owners.
What ONE Pass Means for India’s EV Market
The introduction of ONE Pass adds another financing option to India’s growing electric commercial vehicle market. By separating battery and charging expenses from the initial vehicle purchase, the programme could make electric cargo three-wheelers a more accessible option for last-mile logistics, goods delivery and small businesses.
However, prospective buyers should evaluate the complete ownership cost, including the monthly EMI, per-kilometre energy charges, expected daily running distance and applicable plan conditions, before making a purchase decision.
Overall, the partnership between Exponent ONE, Montra Electric and Exponent Energy highlights how usage-based energy payments and rapid-charging solutions could support the wider adoption of electric commercial vehicles in India.
