In this conversation, Chetan Maini, Co-Founder & Chairman of SUN Mobility, explains how GST 2.0 is narrowing the cost gap between internal combustion engine (ICE) vehicles and EVs, while calling for a fix to tax anomalies — EV batteries at 18% GST versus vehicles at 5%. He stresses the need for sustained policy support to accelerate the shift to zero-emission mobility, noting that intermediate technologies only reduce fuel use rather than eliminating emissions.
Maini outlines how SUN Mobility is enabling 1.5 million battery swaps per month, using swappable batteries to tackle range anxiety and drive rising adoption in B2C use cases. He highlights opportunities for more players in the battery-energy ecosystem, explains why even a few hundred rupees matter to two- and three-wheeler consumers, and calls battery swapping a major white space for startups that deserves stronger government support.
He also discusses turning the rare-earth magnet crisis into an opportunity, SUN Mobility’s plans to expand to Africa and Southeast Asia, and taking its technology to heavy-duty vehicles. Beyond mobility, the company is preparing to grow its energy business further.
Maini points to Bengaluru’s EV boom — with one in two scooters now electric — as evidence of successful EV sub-segments and penetration trends in India, stressing that reaching critical mass is key to the hockey-stick growth curve. He closes by sharing how the Indian Oil partnership will help SUN Mobility scale pan-India.
Video: