Cleaner cities, faster rides, and fewer emissions. That’s the promise as SUN Mobility, with fresh investment from Helios Climate and PIDG, brings its EV battery-swapping innovation to African streets.
This $135 million funding round not only marks SUN Mobility’s first major international growth but also signals a transformative shift for sustainable transport in Africa and beyond. With $135 million in fresh capital, SUN Mobility is set to:
- Build Africa’s largest battery-swapping network, starting in Kenya.
- Expand into Southeast Asia, with the Philippines as the first stop.
- Scale its Indian operations, where it already dominates the battery-swapping market.
- Develop local battery production and quick-interchange stations, creating jobs and reducing costs.
Why This Matters: Africa’s EV Revolution Begins
Africa’s transport sector is at a turning point. Two- and three-wheelers, like scooters and rickshaws, account for roughly 5% of the continent’s CO₂ emissions today.
With the market for these vehicles projected to surpass 1.9 million units annually by 2030, the need for affordable, clean mobility solutions is urgent.
Urbanisation, rising fuel costs, and air pollution in growing cities make EVs an ideal fit, but high upfront costs and long charging times have slowed adoption.
Enter SUN Mobility’s battery-swapping model, which tackles these barriers head-on. By decoupling battery ownership from the vehicle, this system slashes EV purchase costs by up to 40% and eliminates charging downtime.
Drivers simply swap depleted batteries for fully charged ones at designated stations in seconds, a solution tailored for Africa’s vibrant commercial fleets and public transport systems.
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The Power Players Behind the Deal
Helios Climate: Africa’s Green Investment Champion
Helios Climate, through its Helios CLEAR Fund, is Africa’s leading climate-focused investment platform.
Advised by Helios Investment Partners, the fund bridges traditional infrastructure finance and private equity to back high-impact, green businesses.
Its mission? Scale sustainable solutions, protect livelihoods, and support Africa’s role in global net-zero goals. This investment in SUN Mobility aligns perfectly with that vision.
PIDG: Pioneering Sustainable Infrastructure
The Private Infrastructure Development Group (PIDG) is a global innovator in mobilising private capital for sustainable infrastructure in sub-Saharan Africa and Southeast Asia.
Funded by governments including the UK, Netherlands, and Australia, PIDG has supported 258 projects since 2002, connecting 232 million people to better infrastructure. Its involvement ensures SUN Mobility’s expansion is both impactful and financially sound.
SUN Mobility: The Battery-Swapping Trailblazer
Founded in 2017 by the SUN Group and Maini Group, SUN Mobility is a Bengaluru-based leader in EV infrastructure.
With over 900 battery-swapping stations in India, the company powers 50,000+ vehicles and processes 1.4 million swaps monthly.
Its open-architecture battery technology, compatible with two-, three-, and four-wheelers and heavy EVs, works across multiple global OEMs, making it a scalable, interoperable solution.
Strategic investors like Indian Oil Corporation (IOCL), Vitol (parent of Vivo Energy), and Bosch strengthen its global reach.
How SUN Mobility’s Battery-Swapping Works
Unlike traditional EVs that require hours to charge, SUN Mobility’s system is fast, modular, and cost-effective. Here’s how it transforms mobility:
- Swap, Don’t Charge: Drivers visit a swapping station, where a depleted battery is exchanged for a fully charged one in under a minute. No waiting, no hassle.
- Affordable Ownership: By leasing batteries instead of buying them, users avoid the high upfront cost of EVs, making them accessible to fleet operators and individuals.
- Universal Compatibility: The platform supports a range of vehicles, from scooters to heavy electric vehicles, ensuring flexibility for diverse markets.
- Green Impact: By enabling EV adoption, SUN Mobility reduces emissions and improves urban air quality, aligning with global decarbonisation goals.
In India, SUN Mobility’s network has already facilitated 20 million swaps, enabled 465 million electric kilometres, and cut 60,000 metric tonnes of CO₂ emissions. Now, it’s bringing this proven model to Africa.
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The African Opportunity: Why Now?
Africa’s transport landscape is ripe for disruption. Here’s why SUN Mobility’s expansion is perfectly timed:
- Growing Market: The two- and three-wheeler market is set to hit 1.9 million vehicles annually by 2030, driven by urbanisation and demand for affordable transport.
- Emission Challenges: Small vehicles contribute 5% of Africa’s CO₂ emissions, and air pollution is a pressing issue in cities like Nairobi and Lagos.
- Economic Benefits: Battery swapping lowers operating costs for fleet operators, making EVs a competitive alternative to fossil-fuel vehicles.
- Strategic Start: SUN Mobility will kick off in Kenya, leveraging partnerships with Vivo Energy, Africa’s largest fuel retailer, to build swapping stations.
This initiative isn’t just about EVs; it’s about creating jobs, boosting local battery production, and building a resilient e-mobility supply chain across Africa and Southeast Asia.
The Road Ahead for SUN Mobility
This investment isn’t just a financial boost; it’s a vote of confidence in SUN Mobility’s vision to decarbonise transport and make EVs accessible to all.
By partnering with heavyweights like Helios Climate, PIDG, IOCL, Vitol, and Bosch, SUN Mobility is building a global ecosystem for clean mobility.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
