SUN Mobility Secures $135M to Build Africa’s Largest EV Battery Swapping Network – Indian Tech Goes Global!

Indian EV infrastructure leader SUN Mobility has raised $135 million to expand its battery swapping network into Africa, marking one of the largest international moves by an Indian electric mobility company. The funding comes as part of a strategic investment led by Helios Climate, Africa’s climate-focused investment platform, in partnership with the Private Infrastructure Development Group (PIDG).

Highlights:

• $135M Funding Round Secured
• Africa’s Largest Battery Swapping Network Planned
• SUN Mobility Already Runs 900+ Stations in India
• 20 Million+ Swaps Completed, 465M Electric Km Enabled
• 60,000+ Metric Tonnes CO₂ Emissions Avoided

Indian Tech, Global Impact

Founded in 2017 by the SUN Group and Maini Group, SUN Mobility’s battery swapping platform powers over 50,000 EVs in India across two-wheelers, three-wheelers, cars, and heavy electric vehicles. With over 1.4 million monthly battery swaps, the company has become a key enabler of India’s EV ecosystem.

Now, the company is set to replicate its success in Africa, a market with massive potential where 2W and 3W vehicles contribute to 5% of total CO₂ emissions and are expected to cross 1.9 million units annually by 2030.

Why Battery Swapping for Africa?

• Addresses Range Anxiety: Instant swap eliminates charging wait times.
• Reduces EV Upfront Costs: Battery-as-a-Service (BaaS) model separates battery ownership from vehicle ownership.
• Supports Sustainability Goals: Reduces emissions and urban air pollution in rapidly growing African cities.

Strong Global Partnerships

SUN Mobility’s investors include Indian Oil Corporation Limited (IOCL), Vitol (parent of Vivo Energy, Africa’s largest fuel retailer), and Bosch. The expansion leverages these partnerships to deploy battery swapping infrastructure and develop localized EV supply chains across Africa and South-East Asia.

Chetan Maini, Co-Founder and Chairman of SUN Mobility, said:

“With over 20 million swaps completed and 60,000 tonnes of CO₂ avoided, we are ready to bring this impact to Africa’s growing EV market.”