SUN Mobility to Bring Battery Swapping to Africa with $60 Million Investment.

India’s leading battery swapping operator, SUN Mobility, has successfully secured $60 million in new funding from climate-focused investment platform Helios Climate and InfraCo Asia. This significant investment is earmarked to fuel SUN Mobility’s ambitious expansion plans, including the launch of its innovative battery swapping network across Africa and further growth within India.

Beyond its strong domestic presence, the company is set to strategically deploy capital in Kenya and key markets across Southeast Asia, starting with the Philippines. This move marks a major step in SUN Mobility's vision to revolutionize urban mobility with its convenient and sustainable energy solutions on a global scale.

This latest funding round brings the total capital raised by SUN Mobility over the past year to approximately $135 million, underscoring strong investor confidence in its technology and business model. The company's impressive roster of strategic investors includes IOCL, global energy and commodities giant Vitol (parent company of Vivo Energy, Africa's largest fuel retailer), and German engineering and technology firm Bosch.

With this fresh injection of capital, SUN Mobility is well-positioned to accelerate the adoption of electric vehicles by providing efficient and accessible battery swapping infrastructure in emerging markets.