Indofast Energy has announced the launch of its franchise program, enabling entrepreneurs to establish battery-swapping stations across India. The company, a joint venture between IndianOil Corporation Limited and SUN Mobility, currently operates over 200 franchise partner stations in more than 12 cities.
The franchise model offers three formats: Swap Point, Swap Hub, and Swap Junction, requiring minimum space of 250 square feet and investments ranging from ₹10 lakhs to ₹40 lakhs. According to the company, these formats provide returns between 1.7 times to 2.7 times the initial investment.
Indofast Energy plans to expand in Tier-I and Tier-II cities including Jaipur, Mumbai, Pune, Bengaluru, Hyderabad, and Chennai. The company reports having facilitated over 44.5 million battery swaps and currently serves more than 50,000 vehicles nationwide through its network of 1,100-plus swap stations across 22-plus cities.
The franchise program includes end-to-end support from site assessment to operations, along with comprehensive training for partners. The company also offers a referral program that provides additional income opportunities for existing franchisees.
Indofast Energy operates under a Battery-as-a-Service model, providing battery-swapping solutions for two-wheelers, three-wheelers, and small four-wheelers. The service allows vehicles to exchange depleted batteries for charged ones within seconds, addressing the longer charging times associated with conventional electric vehicle charging.
The expansion aligns with growth in India's electric vehicle sector, particularly within the gig economy and delivery services. The company processes approximately 1.4 million battery swaps per month across its existing network.