SUN Mobility joins hands with IndianOil to develop battery swapping infrastructure
The joint venture aims to scale up to over 10,000 battery swapping stations in over 40 cities within the next 3 years.
SUN Mobility, an energy infrastructure and services provider for electric vehicles (EVs), has formed a joint venture (JV) with IndianOil, an energy public sector enterprise (PSE) on June 5, according to a press release.
The collaboration is aimed to establish and deploy one of the largest battery swapping infrastructure networks in India by 2030, the company said.
The joint venture aims to scale up to over 10,000 battery swapping stations in over 40 cities within the next 3 years.
It is supposed to enable the adoption of electric mobility across 2W, 3W and small 4W vehicles by supplying a convenient ‘Battery as a Service’ (BaaS) mobility solution.
Currently, SUN Mobility claims to support more than 25,000 electric vehicles in India across 20 cities.
The company boasts of managing over 630 battery swapping stations and over 50,000 smart batteries which clock over a million swaps per month.
IndianOil is a top-ranked PSE featuring in Fortune 500 rankings with a Revenue from Operations of Rs 8,66,345 crores for the financial year 2023-24.
In recent times, IndianOil is seeking to expand its presence in renewable and alternative energy.
Chetan Maini, Co-Founder & Chairman, SUN Mobility, said, "Seven years ago, SUN Mobility was founded on the premise of making electric vehicles affordable, reducing range anxiety and time for charging electric vehicles. Today, on World Environment Day, it gives me great pride to announce that together, we aim to transform mobility in India and create a benchmark for the world to follow."
The collaboration intends to utilise IndianOil’s extensive network of over 37,000 fuel stations across the country to make SUN Mobility’s battery swapping technology accessible.
The move is supposed to streamline the experience of EV users by making battery swapping available at conventional fuel stations.
SUN Mobility claims to offer BaaS nationwide to alleviate issues of battery cost, maintenance, replacement and charging time.
SUN Mobility was founded in 2017 jointly by the SUN Group and the Maini Group, enterprises involved in the areas of electric mobility and clean energy.
It has significant investments by the automotive technology provider Bosch and the worldwide energy trader Vitol.
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