SUN Mobility raises $135 mn to introduce Africa's largest battery swapping network
, a Bengaluru-based
electric mobility solutions
provider, has raised approximately $135 million over the past year 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.
Founded in 2017 by the SUN Group and Maini Group, SUN Mobility operates over 900 battery swapping stations globally and powers more than 50,000 electric vehicles across multiple segments.
'Our modular, fast, and scalable battery swapping ecosystem adapts to real-world mobility needs,' said Chetan Maini, Co-Founder and Chairman, SUN Mobility. 'With increasing demand for
clean mobility
in Africa, this investment enables us to extend our proven model to a new, high-potential region.'
A boost to Africa's urbanisation
Africa's rising urbanisation and reliance on two- and three-wheelers make it a key candidate for electric mobility transformation. The sector currently contributes about 5 per cent of the continent's CO₂ emissions and is expected to reach annual sales of 1.9 million vehicles by 2030.
SUN Mobility's investor base includes Indian Oil Corporation Ltd (IOCL), Bosch, and Vitol — the parent company of Vivo Energy, Africa's largest fuel retailer.
Tavraj Banga, Partner and Co-Head at Helios Climate, said 'With strong decarbonisation and economic benefits, it's ideally suited for Africa. We are proud to support their entry and help enable climate-resilient mobility solutions."
The new capital will also fund the deployment of Quick Interchange Stations (QIS) and local battery manufacturing capabilities, aimed at reducing emissions and supporting government and fleet decarbonisation targets.
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Indian Express
31 minutes ago
- Indian Express
Trump's 50% tariff: Beginning to get foothold in US market, Agra's leather belt takes a hit
US Tariffs Impact on Indians: In a sprawling shoe manufacturing unit in Agra, men in sweat-soaked vests move along the assembly lines in a choreography honed over the years — working in perfect rhythm, their hands following the machine's pace. As each shoe travels down the conveyor belt, it pauses briefly at each station dedicated to a specific task, such as removing wrinkles, cotton brushing, seat lasting, sole heat activation — a display of how a hundred small acts turn the raw leather into products destined for sale in international markets, including the US. However, US President Donald Trump's decision to raise tariffs on Indian goods — hiking duties on leather footwear from 5-8% to 25%, with a further 25% increase threatened by August 27 — has cast a shadow over the unit. India's leather exports across the world rose from $3,681 million in 2020-21 to $4,828 million in 2024-25 — a 31% rise. In the same period, exports to the US rose from $645 million to $1,045 million — a 62% jump. For manufacturers who had only recently begun gaining a foothold in the US market, the move has come as a significant setback. 'There will definitely be an impact. We only have three US-based customers, as most of Agra's exports have traditionally gone to Europe. But the US was a major market we were trying to enter. It's a huge consumer base, and any success there would have changed the scale of our business. This is going to slow that push down,' said Sushant Dhapodkar of Tej International Pvt Ltd. Agra is one of India's largest footwear manufacturing hubs, alongside Kolkata, Kanpur and Chennai. The city has around 10,000 micro-units apart from 150 small-, 30 medium-, and around 15 large-scale industries. Many use leather imported from Turkey, which takes 45–50 days to arrive via road, along with Indian leather sourced mainly from Kanpur and Chennai, and some from Jalandhar. While Europe remains the mainstay for Agra's leather shoe exporters, the US market, the largest consumer base in the world — accounting for 24% of global consumption despite just 4% of the population — has been developing fast. In the last quarter alone, nearly half of Agra's export business, worth about $594 million, went to the US. The growth was so sharp that many manufacturers had invested heavily in expanding production capacity. 'Those who were earlier working on six assembly lines are now running 14,' said Puran Dawar, chairman of the Development Council for Footwear and Leather Industry and president of the Agra Footwear Manufacturers and Exporters Chamber. 'We ourselves had set up a unit bigger than our existing one to tap into the US market. That's definitely out of the question now.' The tariff announcement has also come at the peak of production for autumn and winter collections — the busiest for Agra's export factories. Orders for leather boots, closed-toe shoes, and high-end formal wear are typically placed months in advance by American buyers. These are now in the final stage of production or ready for shipment — but buyers have been calling to put the stock on hold. According to manufacturers, some buyers are ready to look towards China for an alternative. Dawar said: 'This is the peak season for autumn and winter orders, and buyers are already telling us to hold shipments, even for goods ready to go. They want us to share the tariff loss. But the US is a price-sensitive market — nobody can afford to share even 12.5% of the burden, let alone 50%. Some buyers have already cancelled and are looking to China because their tariff is 30%, and to Vietnam, where it's just 20%. We can't compete at those rates.' Nazir Ahmed, owner of Park Exports, said the problem goes far beyond price competition. 'Now with the initial 25%, it's going to be a disaster unless Trump goes back to the original tariff,' he said. 'This won't just be a problem for India, but for the US as well… the higher the duty, the more expensive their product will be. In countries where lower tariffs are imposed, they will have the advantage, and we wouldn't be able to compete with them,' said Ahmed. He also highlighted the potential impact back home. 'If orders aren't placed, factories will be without work. And if factories are without work, workers will be without work. This industry is labour-intensive, so unemployment could run into millions if this continues. And I'm not just talking about manufacturing — textiles, tools, every industry linked to this process will take a hit,' he said. Manufacturers said the setback is particularly bitter because of the efforts they made to break into the US market. 'It's a setback to our plans to double or triple exports to the US,' Ahmed said. 'The government increases targets every year, and the American market has the potential to match our exports to Europe. Now all that planning is on hold.' Others, like Dawar, believe the hike is a 'pressure tactic' and will eventually be rolled back. 'The government is in touch with us to see how they can help. We were called to meet Commerce Minister Piyush Goyal last week to discuss relief. One idea discussed was that the government could bear a part of the hike, and the remaining could be between the manufacturer and the US importer.' The current uncertainty, meanwhile, is already triggering ripple effects beyond Agra. Naseem Khan, a Kanpur tannery owner whose leather is supplied to manufacturers linked to US exports, said clients have begun cancelling or freezing orders. 'Whatever the stage of production, they're saying stop immediately. Even though we don't directly export to the US, we are deeply connected; the leather we produce is approved by those who manufacture finished goods for the US,' Khan said. Meanwhile, exporters are brainstorming alternatives. Russia, once a major market for Agra, is being considered for revival. Others are looking inward to India's growing middle class — a customer base whose purchasing power has risen in recent years. Until now, much of the footwear sold domestically was made locally from scraps and leftovers of the export process. But with international orders in limbo, manufacturers are weighing whether to redirect their best designs and full-scale production to the home turf. Chairman, Council for Leather Export, Rajendra Kumar Jalan said, 'Currently, the dispatches have come to a standstill. All US buyers and Indian manufacturers exporting finished goods to the US have put their orders on pause because of the 50% tax. When the tax was raised to 25%, there was still some hope — we were still on par with competing nations like Bangladesh, Indonesia, Vietnam, and, to some extent, China. But now, we are completely out of the picture. China, in fact, is gaining an advantage because the additional Russian oil tariffs do not apply to them, and they also enjoy a 90-day moratorium.' 'That being said, the US purchases from us are in large volumes, and for these bulk buyers, getting an alternative source of production for these huge orders, and that too in a short period, will be extremely difficult,' said Jalan 'At present, the reaction is one of panic. But we remain hopeful of finding alternative markets. There will be competition from other leather manufacturing nations, but our focus will be on countries where India has signed or is about to sign an FTA — countries such as Chile, Peru, and some European nations,' he said. — With inputs from Nirbhay Thakur
India Today
an hour ago
- India Today
Artificial rain in Jaipur through pilot drone project to revive Ramgarh Lake
A pilot project to create artificial rain using drones was launched on Tuesday in Jaipur with the aim of reviving Ramgarh Lake and improving water availability in drought-hit areas of initiative, led by Agriculture Minister Dr Kirori Lal Meena, is the first in India to combine drone-based cloud seeding with artificial intelligence (AI).The technology, developed by US and Bengaluru-based firm Gen X AI, uses an AI-powered platform called "Hydro Trace" to identify suitable clouds for seeding using real-time data, satellite images and Once the right conditions are detected, drones release small amounts of seeding agents such as sodium chloride to help form 60-day mission will involve around 60 test flights, with drones expected to fly four to five times a month, depending on weather from the India Meteorological Department (IMD) will be processed to time the seeding project has approvals from the Directorate General of Civil Aviation, Agriculture Department, Meteorological Department and local the first day, the trial did not go as planned. The GPS signal was disrupted due to heavy mobile usage by the large crowd present, preventing the drone from reaching its target one attempt, it failed to lift off properly, and in another, it became stuck in bushes near the situation briefly caused tension between onlookers and police, but was brought under control. The technical team said future trials will have restricted public access and measures to avoid signal to Gen X AI founder Rakesh Agarwal, earlier cloud seeding efforts in India used aircraft over large areas, but drones allow precision targeting of small could make artificial rain possible in specific locations, such as farms affected by dry spells despite monsoon clouds. The team has been monitoring weather patterns in Jaipur for the past 20 Climate Engineer Dr N Sai Bhaskar Reddy of Excel-1, a partner in the project, said that Tuesday's plan was to fly the drone up to 400 feet, but current cloud formations are higher than that. The trial, originally scheduled for July 31, was postponed due to heavy rain Meena assured that the chemicals used are safe for people, animals and crops, and meet international standards. If successful, the project could help raise lake and groundwater levels, improve farm irrigation, and increase crop experiment is being funded by Gen X AI, which will share its findings with the Rajasthan government after two the trial works, similar operations could be launched in other drought-prone areas of the state and across scientist Kalyan Chakraborty said such drone-based precision cloud seeding has been used in the US before, but this is the first attempt in India.- Ends IN THIS STORY#Jaipur
Time of India
an hour ago
- Time of India
Union Cabinet approves 2 semiconductor projects worth Rs 4,009cr for Odisha
Bhubaneswar: Union Cabinet on Tuesday approved two major semiconductor manufacturing units worth Rs 4,009 crore for Odisha. The two projects, to be set up in Bhubaneswar's Info Valley, will generate thousands of high-skilled jobs, catalyse electronics manufacturing and help place Odisha on the global semiconductor map, sources said. The two manufacturing units will be built by SiCSem and 3D Glass. Given the growing demand for semiconductors in telecom, automotive, data centres, consumer electronics and industrial electronics, the newly approved projects will significantly contribute to creating an ' Atmanirbhar Bharat ', official sources said. Thanking Prime Minister Narendra Modi for the Cabinet's approval, chief minister Mohan Majhi said in an X post, "The recent amendment of the Odisha Semiconductor Manufacturing and Fabless Policy, aimed at enhancing investment viability, competitiveness, and sustainability, together with this significant Cabinet approval, marks a major milestone in the state's industrial and technological advancement. I look forward to continued partnership between the state and central govts to further this strategic initiative for the comprehensive development of Odisha and the nation." SiCSem Pvt Ltd, in collaboration with UK-based Clas-SiC Wafer Fab Ltd, will set up India's first commercial compound semiconductor fabrication facility here. The plant will manufacture silicon carbide (SiC) devices, known for their efficiency in high-power applications, with an annual capacity of 60,000 wafers and 96 million packaged units. The SiC devices will have applications across critical sectors, including missiles, defence equipment, electric vehicles (EVs), railway, fast chargers, data centre racks, consumer appliances and solar power inverters. The facility is expected to give India a strategic edge in producing next-generation power electronics domestically. The second project, by US-headquartered 3D Glass Solutions Inc (3DGS), will introduce the world's most advanced semiconductor packaging technology. The unit will manufacture glass interposers, silicon bridges and 3D heterogeneous integration (3DHI) modules. The component are crucial for miniaturisation, high performance and energy efficiency in electronics. With a planned capacity of about 69,600 glass panel substrates, 50 million assembled units, and 13,200 3DHI modules annually, the facility will cater to applications in defence, high-performance computing, artificial intelligence, RF and automotive electronics, photonics and co-packaged optics. Officials said the two projects will not only bring cutting-edge technology to Odisha but also create a ripple effect in the state's electronics ecosystem, encouraging ancillary industries and boosting technical skill development. Apart from two Odisha projects, the Cabinet also approved one project each for Punjab and Andhra Pradesh under the India Semiconductor Mission (ISM). Union education minister Dharmendra Pradhan hailed the Cabinet's decision to set up the two units in Odisha. He said the decision is a pivotal moment for the state, emphasising its potential to create jobs and generate substantial revenue. Pradhan expressed his gratitude to the PM and highlighted that this move marks a new chapter in the 'Purvodaya' mission. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
