Sun Mobility raises funds from Helios Climate, PIDG

Mumbai, Jul 29 (PTI) Helios Climate, in partnership with Private Infrastructure Development Group (PIDG), on Tuesday announced an undisclosed amount of investment in Sun Mobility for deploying a battery swapping network in Africa and fueling the company's domestic growth.

The investment by Africa's premier climate-focused investment platform along with PIDG, brings the total capital raised by SUN Mobility over the past year to approximately USD 135 million, Helios said.

Founded in 2017 by the SUN Group and the Maini Group, SUN Mobility operates over 900 battery swapping stations and powers a fleet of over 50,000 vehicles.

Its globally interoperable, open-architecture battery technology developed and manufactured in India, services two-wheelers, three-wheelers, four-wheelers, and heavy electric vehicles (HEVs) across multiple global OEM partners.

Through this significant capital infusion, SUN Mobility will support the growth of the e-mobility supply chain in Africa and South-East Asia (batteries and quick interchange stations) and continue to fuel its domestic growth, the statement said.

"SUN Mobility's platform's interoperability spans multiple OEMs and vehicle types, allowing electrification at scale. Coupled with the economic and decarbonization benefits, it is an ideal solution for emerging markets," said Tavraj Banga, Partner & Co-Head, Helios Climate.

Africa's two- and three-wheelers account for around 5 per cent of the continent's carbon emissions currently and the market is expected to exceed 1.9 million vehicles annually by 2030, signaling a timely opportunity for clean, cost-effective electrification, Helious said.

"We've built a modular, fast, and scalable battery swapping ecosystem that adapts to real-world mobility needs. With over 1.4 million monthly swaps in India and growing global interest, we are extending our proven model to emerging markets like Africa," said Chetan Maini, Co-Founder and Chairman, SUN Mobility. PTI IAS MR