Anant Badjatya appointed CEO of Indofast Swap Energy, a SUN Mobility-IOCL joint venture

Anant Badjatya, with over 20 years of experience, will lead Indofast Swap Energy in establishing a nationwide battery-swapping network for two- and three-wheelers, combining IndianOil’s infrastructure with SUN Mobility’s battery-swapping technology.

Autocar Pro News Desk By Autocar Pro News Desk calendar 09 Oct 2024 Views icon3723 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Anant Badjatya appointed CEO of Indofast Swap Energy, a SUN Mobility-IOCL joint venture

SUN Mobility-IOCL announced the appointment of Anant Badjatya as CEO of their new joint venture, Indofast Swap Energy Pvt. Ltd. Previously the CEO of SUN Mobility, Badjatya assumes his new role immediately. This follows the agreement between IOCL and SUN Mobility in June 2024 to create one of India's largest battery-swapping networks by 2030.

With over 20 years of experience in the energy and automotive sectors, Badjatya will lead Indofast Swap Energy in building a large-scale battery-swapping network. The network will leverage IndianOil’s existing infrastructure of over 37,000 fuel stations across the country, combined with SUN Mobility’s battery-swapping technology. Indofast Swap Energy will use a Battery-as-a-Service model, providing two- and three-wheeler owners with affordable mobility options, reducing concerns about range and charging times.

Commenting on his new role, Anant Badjatya, CEO of Indofast Swap Energy Pvt. Ltd., expressed his focus on providing innovative technology and infrastructure for two- and three-wheeler customers, offering practical and eco-friendly mobility solutions.

The creation of Indofast Swap Energy aligns with India's sustainability goals and efforts to promote electric vehicle adoption. IOCL and SUN Mobility aim to enhance battery management systems and expand the charging infrastructure across the country to support these goals.

SUN Mobility is an energy solutions company focused on providing innovative and sustainable mobility solutions, particularly through its battery-swapping technology. Founded in 2017, the company aims to address key challenges in electric vehicle (EV) adoption, including range anxiety, long charging times, and high upfront costs. SUN Mobility offers a Battery-as-a-Service (BaaS) model, enabling two- and three-wheeler owners to swap discharged batteries for fully charged ones at convenient swap stations. This solution is designed to make electric mobility more accessible, efficient, and cost-effective.

Partnering with major players in the energy and automotive sectors, including Indian Oil Corporation Ltd. (IOCL), SUN Mobility is working to build a vast battery-swapping network across India.

RELATED ARTICLES
Ola Electric prepones Gen 3 platform launches to January 2025

auther Amit Vijay M calendar09 Nov 2024

The Gen 3 platform includes major tech innovations by the company such as battery as a structure, magnetless motor, sing...

ACE reports strong Q2 with 14.5% revenue growth, margin expansion

auther Sreejith Rajan calendar09 Nov 2024

ACE demonstrated strong profitability improvements, with EBITDA margins expanding by 268 basis points to reach 18.04%.

Slow auto sales to hit growth, see pickup from next year, says Tata Autocomp

auther Amit Vijay M calendar09 Nov 2024

Revenue growth is likely to moderate to 10-12% in the current financial year, a far cry from the 37-38% growth the compa...