Transformational funding enables Africa-wide EV deployment, alongside continued growth in home markets
29 July 2025 | Bengaluru/London — In a landmark move aimed at accelerating clean mobility across emerging markets, Helios Climate (HC), Africa’s leading climate-focused investment platform, has partnered with the Private Infrastructure Development Group (PIDG) to invest in SUN Mobility—a global innovator in electric vehicle (EV) battery swapping and energy infrastructure.
The strategic investment brings SUN Mobility’s total capital raised over the past year to approximately $135 million, a transformative infusion set to launch Africa’s largest battery swapping network while continuing to scale operations in India.
Founded in 2017 by the SUN Group and Maini Group, SUN Mobility currently powers over 50,000 EVs via a network of 900+ battery swap stations. Its modular and interoperable battery technology—developed in India—supports two-wheelers, three-wheelers, four-wheelers, and heavy electric vehicles across global OEM partners. Key investors in the company include IOCL, Bosch, and Vitol (parent company of Vivo Energy, Africa’s largest fuel retailer).
Tavraj Banga, Partner & Co-Head at Helios Climate, stated: “SUN Mobility is enabling electrification at scale across diverse vehicle platforms. Their proven technology delivers affordability and decarbonization benefits critical to emerging markets like Africa. We’re excited to support their expansion and collaborate with existing partners to deploy climate-resilient transport solutions.”
Chetan Maini, Co-Founder & Chairman of SUN Mobility, added: “Africa presents an ideal canvas for clean mobility. Our scalable battery swapping ecosystem, with over 1.4 million monthly swaps in India, is ready to meet Africa’s urban transport demands, especially with its reliance on two- and three-wheelers.”
SUN Mobility’s swap-based platform decouples battery ownership from vehicles, dramatically lowering upfront EV costs—a key friction point for fleet operators and city administrators. The EV market in Africa, particularly in two- and three-wheelers, is forecasted to exceed 1.9 million vehicles annually by 2030, currently contributing approximately 5% of the continent’s CO₂ emissions.
This investment will also support supply chain development in South-East Asia and Africa, focusing on battery manufacturing and quick interchange infrastructure. SUN Mobility’s footprint in sustainable transport will expand its role in mitigating urban emissions while offering cost-efficient mobility solutions.
Stay tuned for additional updates as SUN Mobility begins rollout of its clean transport model across African cities.
