SUN Mobility secures $60M investment from Africa’s Helios Climate and InfraCo Asia

SUN Mobility, an electric mobility solutions provider, has raised $60 million to expand its battery swapping operations in India and establish Africa’s largest network of battery swapping stations.

The latest investment led by Helios Climate and the Private Infrastructure Development Group (PIDG) will support e-mobility supply chain development in Africa and South-East Asia.

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“SUN Mobility is a global category leader with a differentiated and proven solution for the e-mobility space. Their platform’s interoperability spans multiple OEMs and vehicle types, allowing electrification at scale. Coupled with the economic and decarbonisation benefits, it is an ideal solution for emerging markets,” said Tavraj Banga, Partner & Co-Head, Helios Climate.

“We’re proud to support their entry into Africa and work alongside their key partners to deliver scalable, affordable, and climate-resilient mobility solutions on the continent. We look forward to working alongside the company and its shareholders, including Vitol, Indian Oil and Bosch, to realise this potential,” Banga added.

About SUN Mobility

Founded in 2017 by the SUN Group and the Maini Group, SUN Mobility runs a network of over 900 battery swapping stations, powering a fleet of more than 50,000 vehicles—including two-, three-, and four-wheelers, as well as heavy EVs—across various global OEMs and Bosch.

Battery swapping is gaining popularity as it lowers the upfront cost of EVs and eliminates range anxiety, making it ideal for fleet operators and gig workers.

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To scale further in India, SUN Mobility has partnered with Indian Oil Corporation Ltd to launch IndoFast Swap Energy. Together, they’ve set up over 900 swapping points in 23+ cities across the country.