Helios, PIDG back SUN Mobility’s Africa expansion

Helios Climate (HC), Africa’s premier climate-focused investment platform, in partnership with the Private Infrastructure Development Group (PIDG), has announced a landmark investment in SUN Mobility, a global leader in energy infrastructure and battery swapping solutions for electric vehicles

This investment round brings SUN Mobility’s total capital raised over the past year to approximately US$135mn. The substantial funding will support the launch of Africa’s largest battery swapping network and fuel the company’s continued domestic growth.

SUN Mobility, founded in 2017 by the SUN Group and the Maini Group, currently operates more than 900 battery swapping stations and powers a fleet of over 50,000 vehicles. The company’s globally interoperable, open-architecture battery technology, developed and manufactured in India, caters to two-wheelers, three-wheelers, four-wheelers, and heavy electric vehicles (HEVs), and is compatible with multiple global OEM partners.

Strategic investors in SUN Mobility include Indian Oil Corporation Limited (IOCL), Vitol (parent company of Vivo Energy, Africa’s largest fuel retailer), and Bosch.

Tavraj Banga, partner & co-head, Helios Climate, commented, “SUN Mobility is a global category leader with a differentiated and proven solution for the e-mobility space. Their platform’s interoperability spans multiple OEMs and vehicle types, allowing electrification at scale. Coupled with the economic and decarbonisation benefits, it is an ideal solution for emerging markets. We’re proud to support their entry into Africa and work alongside their key partners to deliver scalable, affordable, and climate-resilient mobility solutions on the continent. We look forward to working alongside the company and its shareholders, including Vitol, Indian Oil and Bosch, to realise this potential.”

Chetan Maini, co-founder & chairman, SUN Mobility, added, “We’ve built a modular, fast, and scalable battery swapping ecosystem that adapts to real-world mobility needs. With over 1.4 million monthly swaps in India and growing global interest, we’re excited to extend our proven model to emerging markets like Africa. The region’s rapid urbanization, reliance on two and three-wheelers, and need for robust HEV solutions position it perfectly to leapfrog into clean mobility.”

SUN Mobility’s innovative platform decouples battery ownership from the vehicle, lowering the upfront cost of electric vehicles and making them more affordable. Its solution addresses key challenges for fleet operators and governments aiming to cut emissions and reduce air pollution at scale.

Two- and three-wheelers currently account for nearly 5% of Africa’s CO₂ emissions, and with the market projected to exceed 1.9 million vehicles annually by 2030, the opportunity for scalable electrification is substantial.

With this investment, SUN Mobility will also support the development of the e-mobility supply chain across Africa and Southeast Asia, focusing on batteries and quick interchange stations. The initiative is expected to help reduce emissions and improve air quality through greater adoption of electric vehicles.