Pioneering Clean Mobility Across Two Continents
SUN Mobility, a global leader in energy infrastructure and battery swapping technology for electric vehicles (EVs), has recently secured a landmark $135 million investment round, led by Africa’s premier climate-focused investment platform Helios Climate in partnership with the Private Infrastructure Development Group (PIDG). This capital infusion marks a major milestone in SUN Mobility’s ambitious global expansion plan, aimed at launching Africa’s largest battery swapping network, while simultaneously accelerating growth in its domestic Indian market.
Revolutionizing EV Infrastructure: What Battery Swapping Means
The concept of battery swapping involves replacing a depleted EV battery with a fully charged one at a dedicated station, significantly reducing vehicle downtime and overcoming challenges posed by conventional charging. SUN Mobility’s open-architecture, interoperable battery swapping platform supports multiple vehicle segments including:
- Two-wheelers
- Three-wheelers (e-rickshaws)
- Four-wheelers
- Heavy electric vehicles (HEVs)
This flexibility makes it a scalable and cost-effective solution for fleet operators and governments aiming to rapidly electrify transport and cut emissions at scale.
Impressive Growth and Existing Footprint in India
Since its founding in 2017 by the SUN Group and the Maini Group, SUN Mobility has:
- Established over 900 battery swapping stations across India
- Powered more than 50,000 electric vehicles across segments
- Enabled over 1.4 million battery swaps per month, demonstrating real-world scalability and reliability
India’s rapidly growing EV market offers an ideal proving ground for SUN Mobility’s technology and business model. By decoupling battery ownership from vehicles, SUN Mobility reduces the upfront cost barriers for EV adoption, improving affordability and operator economics.
Why Africa: A Strategic Expansion for Maximum Impact
Africa represents a timely and strategic market for SUN Mobility due to its:
- Rapid urbanization and expanding middle class
- Heavy reliance on two- and three-wheelers, which currently contribute approximately 5% of the continent’s CO2 emissions
- Growing demand, with projections expecting over 1.9 million electric two- and three-wheelers annually by 2030
The infusion of capital backed by Helios Climate and PIDG aims to:
- Deploy a robust battery swapping infrastructure network across key African markets
- Facilitate cost-effective, clean mobility solutions enabling fleet operators to overcome charging challenges
- Support government efforts to improve air quality and reduce urban emissions through electrification
Strategic Partnerships and Industry Backing
SUN Mobility’s investor portfolio includes major players that bolster its growth and credibility:
- Indian Oil Corporation Limited (IOCL) – Partner through joint ventures and infrastructure support
- Vitol (Parent company of Vivo Energy, Africa’s largest fuel retailer) – Adding strategic market reach in Africa
- Bosch – Technology and component collaboration for EV solutions
Additionally, SUN Mobility has formed a 50:50 joint venture with IOCL named IndoFastSwap Energy, focusing on scaling battery swapping networks faster and with greater efficiency in India.
Chetan Maini on the Future of Battery Swapping
Co-Founder and Chairman Chetan Maini states:
“We have built a modular, fast, and scalable battery swapping ecosystem that truly adapts to the diverse needs of real-world mobility. The traction we have achieved across India, coupled with the growing global interest, especially in markets like Africa, validates our vision. Our interoperable and open architecture reduces EV ownership barriers, supporting fleet and government efforts to decarbonize transport and improve air quality at scale.”
Key Benefits of SUN Mobility’s Battery Swapping Model
- Reduced upfront EV costs by separating battery ownership from vehicles
- Rapid turnaround times with battery swaps taking minutes instead of hours
- Scalability across multiple vehicle types and geographies
- Lower emissions and improved urban air quality through increased EV adoption
- Enhanced convenience for fleet operators managing large numbers of vehicles
Future Outlook: Electrification Beyond Borders
With this fresh capital injection, SUN Mobility is poised to transform urban mobility ecosystems not just in India and Africa but globally. The company’s vision includes:
- Accelerating battery swapping infrastructure deployment in Africa to create the continent’s most extensive network
- Driving expansion in other emerging markets like South-East Asia
- Continuing innovation in interoperable battery technologies for a broad range of electric vehicles
- Collaboration with OEMs and governments to promote sustainable transport policy frameworks
SUN Mobility is leading a quiet revolution in clean electric mobility by enabling fleets and consumers to embrace EVs with confidence, affordability, and convenience. The recent $135 million investment and African expansion reflect rising global trust in innovative solutions that can accelerate sustainable transportation and reduce the carbon footprint of urban mobility worldwide.
