Bosch, a leading provider of technology and services in the mobility ecosystem, has acquired a 26% stake in EV Battery Swapping Solution Provider SUN Mobility – announced Co-founder Chetan Maini in a LinkedIn post. The company aims to use the investment to continue its focus on innovation and growth acceleration and also for making in-roads at a global level.
SUN Mobility is headquartered at Bengaluru and was founded in April 2017 as a 50:50 joint venture between Maini Group and SUN Group. The start-up is the most prominent player in India’s battery swapping space for electric 3Ws and e-buses.
SUN Mobility offers an open-architecture Energy Infrastructure Solution, including its own Smart Batteries that can be swapped at its Quick Interchange Stations. It provides a full stack solution including mobile apps for drivers and web interface for managers to onboard drivers and map vehicles.
The company has a focus on shared mobility segment and has partnered with OEMs and shared mobility providers to deploy its energy infrastructure and offer battery swapping services. Some of the partners are Microsoft, Uber, Piaggio, SmartE, Ashok Leyland, and IOCL.
Sun Mobility recently tied up with the Indian Oil Corporation to set up battery-swapping stations at its fuel pumps. The first such swapping station was launched at a IOCL fuel pump in Chandigarh in Jun 2020.
Scale – Operational in 11 Indian cities, covered over 2 million emission free kms, transported over 3 lakh passengers via e-buses and 3Ws. Sun Mobility aims to power 1 million EVs by 2025 and save 8.5 million tons of CO2.