Anant Badjatya Appointed as CEO of Indofast Swap Energy
SUN Mobility-IOCL have appointed Anant Badjatya as CEO of their joint venture, Indofast Swap Energy Pvt. Ltd. The venture aims to establish over 10,000 battery-swapping stations across 40 cities in three years, leveraging IOCL's 37,000 fuel stations.
October 11, 2024. By EI News Network
Earlier this year in June, Indian Oil Corporation Ltd. (IOCL) entered into a 50-50 joint venture with Sun Mobility to launch a battery-swapping business. The partnership aims to offer Battery-as-a-Service (BAAS) solutions for two, three, and four-wheelers with a gross vehicle weight under 2 tonnes.
The partnership will leverage IOCL’s 37,000 fuel stations to establish a wide-reaching battery-swapping network. Over the next three years, it plans to set up more than 10,000 swapping stations across 40 cities, with a goal of creating one of the largest networks by 2030.
“We aim to be synonymous with India’s mobility revolution, especially for 2 and 3-wheeler users,” said Anant Badjatya. The initiative seeks to make electric vehicle charging as easy and accessible as traditional refuelling, combining IOCL’s infrastructure with SUN Mobility’s innovative technology.
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