Sun Mobility-IOCL announced the appointment of Anant Badjatya (former CEO of Sun Mobility) as the CEO of its newly formed joint venture, Indofast Swap Energy, with immediate effect. The announcement came after the landmark deal signed by both IOCL and Sun Mobility in June to establish battery-swapping networks by 2030.
Anant Badjatya, with over 20 years in the energy and automotive industries, will head Indofast Energy’s initiative to create a wide-reaching battery-swapping network. This effort combines Indian Oil’s 37,000 fuel stations across India with Sun Mobility’s advanced battery swapping technology. Through its Battery-as-a-Service (Baas) model, Indofast Swap Energy aims to provide affordable mobility solutions for two and three-wheeler owners, helping to alleviate concerns about range and lengthy charging times.
Speaking on his new role, Anant Badjatya, CEO, Indofast Swap Energy stated “We would like to be synonymous with India’s mobility revolution and a household name for 2 and 3 wheeler customers. Our offering of innovative technology with extensive infrastructure is unparalleled and underscores our resolve to provide a practical, accessible, and eco-friendly solution to all.”
The launch of Indofast Swap Energy supports India’s sustainable development goals and the government’s efforts to promote electric vehicle adoption. The companies aim to improve battery management systems and charging infrastructure nationwide.
Indofast Swap Energy is a joint venture between Indian Oil Corporation Limited (IOCL) and Sun Mobility, based in Bengaluru with a corporate office in Gurugram. The venture aims to leverage IOCL’s extensive network of over 37,000 fuel stations and SUN Mobility’s advanced technology to make EV charging as easy as refuelling.
