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Chetan Maini’s passion for sustainable mobility began over 30 years ago, as a member of the University of Michigan Solar Car team that won a cross-country race across the US and placed third in the World Solar Challenge in Australia. This early spark led to a lifelong mission to make electric vehicles more affordable and accessible. As the founder of Reva, India’s first and most affordable electric car, Chetan helped put EVs on the global map—Reva became the world’s best-selling electric car in its category, sold in over 24 countries, and was recognized in 2013 (as Mahindra Reva) as one of the Top 50 Most Innovative Companies by Fast Company magazine.
In 2017, Chetan Maini joined hands with Uday Khemka, Vice-Chairman of the SUN Group, to form SUN Mobility—an ambitious venture to revolutionize the way energy is delivered to electric vehicles. They were later joined by Ajay Goel, further strengthening the leadership team. Headquartered in Bengaluru, SUN Mobility is a joint venture between the Maini Group, known for its expertise in electric mobility and engineering solutions, and the SUN Group, a diversified global investor in sectors like energy, mining, and new energy storage technologies.
SUN Mobility’s vision is to accelerate the mass adoption of electric mobility by creating a universal network of interoperable energy infrastructure. By decoupling the battery from the vehicle and introducing a digitally enabled, pay-as-you-go energy model, SUN Mobility directly addresses the major barriers to EV adoption—high upfront costs, range anxiety, and long charging times.
Through strategic partnerships with vehicle manufacturers (OEMs), battery technology providers, fleet operators, infrastructure companies, and city authorities, SUN Mobility is building an ecosystem that simplifies energy access and makes electric mobility practical, scalable, and inclusive for all.
SUN Mobility’s journey has been backed by a strong and visionary group of investors who share its mission to redefine electric mobility. From the outset, the company has benefited from the strategic support of its founding partners—the Maini Group and the SUN Group—who bring deep expertise in clean mobility, engineering, and energy investments. This foundation was further strengthened by the involvement of Chetan Maini, Uday Khemka, and Ajay Goel, who have played instrumental roles not only as co-founders but also as long-term believers in the transformative potential of battery swapping as a core energy solution for EVs.
In 2019, global technology leader Bosch acquired a 26% stake in SUN Mobility, bringing both capital and automotive expertise to accelerate product development and integration with OEM platforms. This was followed in 2021 by a $50 million investment from Vitol, one of the world’s largest energy and commodities companies. The Vitol investment was aimed at supporting the expansion of SUN Mobility’s battery-swapping infrastructure and services across India and selected international markets. Together, these investments not only validate the company’s scalable, infrastructure-led model but also fuel its ambition to build a universal energy network that powers the future of electric mobility.
A major milestone in SUN Mobility’s journey came in June 2024, when it entered into a landmark joint venture with Indian Oil Corporation (IOCL), one of India’s largest and most trusted energy companies. The 50:50 joint venture—named Indofast Swap Energy Pvt. Ltd.—was established to scale the Battery-as-a-Service (BaaS) model across the country, targeting electric two-wheelers, three-wheelers, and light commercial vehicles under two tonnes. Headquartered in Bengaluru with a corporate office in Gurugram, Indofast Energy is poised to leverage Indian Oil’s extensive network of over 38,000 fuel stations to accelerate the adoption of battery swapping.
At the time of the agreement, SUN Mobility had already deployed more than 600 battery-swapping stations across 20 cities, powering a fleet of over 25,000 electric vehicles. The joint venture aims to expand this network dramatically, with a vision to set up over 10,000 battery-swapping stations nationwide. By combining SUN Mobility’s cutting-edge swapping technology with Indian Oil’s unmatched infrastructure reach, Indofast enables users to swap out depleted batteries for fully charged ones in just under two minutes. The service follows a pay-per-use model, charging customers based on the energy consumed per swap—offering a fast, flexible, and affordable alternative to traditional EV charging.
An entrepreneur and technologist for over two decades, Chetan is passionate about creating sustainable mobility solutions to accelerate mass adoption of electric mobility. Having invented the Reva, India’s first electric car in 1999, an electric vehicle much ahead of its time, he is globally acknowledged as a pioneer in the electric vehicle space. He has over 25 years’ experience in leading teams that developed electric, hybrid and solar vehicles and has applied for/been granted over 35 global patents. Chetan played an instrumental role in advising the central and state governments on respective EV policies.
SUN Mobility is the leading provider of universal energy infrastructure and services to accelerate mass electric vehicle usage.
