SUN Mobility and IndianOil Partner to Establish Extensive EV Battery Swapping Network in India

Space & Technology India

SUN Mobility and IndianOil Partner to Establish Extensive EV Battery Swapping Network in India

SUN Mobility and IndianOil have announced a joint venture to create one of India's largest battery swapping networks for electric vehicles, aiming for over 10,000 stations by 2030.

SUN Mobility, a leader in energy infrastructure and services for electric vehicles (EVs), has teamed up with IndianOil, a major diversified energy company, to launch a joint venture aimed at building one of India’s largest battery swapping infrastructure networks by 2030. This initiative will deploy over 10,000 battery swapping stations across more than 40 cities within the next three years.

This partnership aims to provide a convenient "Battery as a Service" (BaaS) model. This approach will revolutionize electric mobility for two-wheelers, three-wheelers, and small four-wheelers, making the adoption of EVs more accessible and seamless for users.

Currently, SUN Mobility 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. Their 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 that SUN Mobility was founded to make electric vehicles affordable, reduce range anxiety, and minimize charging time. He emphasized that this collaboration would 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, addressing key concerns for EV users regarding battery cost, maintenance, replacement, and charging time.

IndianOil, a Fortune 500 company with 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 IndianOil's commitment to promoting sustainable transportation solutions.

The 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 joint venture aims to eliminate barriers to EV ownership and contribute to a cleaner and greener future for India’s transportation sector.

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