30-07-2025
SUN Mobility raises $135 mn to introduce Africa's largest battery swapping network
SUN Mobility
, 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.
