SUN Mobility, a leading provider of energy infrastructure and services for electric vehicles (EVs), and IndianOil, a major diversified energy company, have announced a landmark joint venture (JV) aimed at establishing one of India's largest battery swapping infrastructure networks by 2030.
This ambitious collaboration seeks to deploy over 10,000 battery swapping stations across more than 40 cities within the next three years. By providing a convenient "Battery as a Service" (BaaS) model, this initiative is poised to revolutionize electric mobility for two-wheelers, three-wheelers, and small four-wheelers, making EV adoption more accessible and seamless.
SUN Mobility currently supports over 25,000 electric vehicles across 20 Indian cities through a network of more than 630 swapping stations and over 50,000 smart batteries. This infrastructure already facilitates over a million battery swaps per month, serving a diverse customer base of two- and three-wheeler users.
Chetan Maini, Co-Founder & Chairman of SUN Mobility, expressed his enthusiasm for the partnership, stating, "Seven years ago, SUN Mobility was founded on the premise of making electric vehicles affordable, reducing range anxiety, and minimizing charging time. Today, on World Environment Day, it gives me great pride to announce that together, we aim to transform mobility in India and set a global benchmark.”
The joint venture leverages IndianOil's extensive network of over 37,000 fuel stations nationwide, combined with SUN Mobility's advanced battery swapping technology. The goal is to make battery swapping as convenient as refueling at traditional gas stations, thus addressing key concerns for EV users regarding battery cost, maintenance, replacement, and charging time.
IndianOil, a Fortune 500 company with a revenue exceeding Rs 866,000 crores in the fiscal year 2023-24, has been actively expanding its presence in renewable and alternative energy sectors. This collaboration aligns with the company's commitment to promoting sustainable transportation solutions.
This strategic partnership is expected to significantly accelerate the adoption of electric vehicles in India by providing a comprehensive and user-friendly battery swapping infrastructure. By offering battery swapping as a service, the JV aims to eliminate barriers to EV ownership and contribute to a cleaner and greener future for the nation's transportation sector.
