SUN Mobility Expands Electric Vehicle Infrastructure with New Investment

Helios Climate, a leading climate-focused investment platform, along with the Private Infrastructure Development Group (PIDG), has announced new funding for SUN Mobility. The investment will support the expansion of battery swapping networks in Africa and aid the company's domestic growth efforts.

This recent capital infusion brings SUN Mobility's total funding to approximately USD 135 million over the past year. Founded by the SUN and Maini Groups in 2017, SUN Mobility operates over 900 battery swapping stations, powering a fleet of more than 50,000 vehicles globally.

The company's technology, developed in India, supports a variety of electric vehicles, from two-wheelers to heavy electric vehicles (HEVs), across multiple original equipment manufacturer (OEM) partners. This timely investment arrives as Africa's demand for electric two- and three-wheelers is expected to surge, providing an opportunity for sustainable electrification.

(With inputs from agencies.)