New Delhi: Electric vehicle solutions and services startup Sun Mobility said it will build itself a complete mobility as a service (MaaS) and aims to bring one million EVs on Indian roads by 2025, Chetan Maini, co-founder of Sun Mobility told ETAuto.
With this the company aims to be a complete electric mobility solution provider. It has been providing battery swapping, battery leasing, chargers and now it has added e-vehicles too in its offering.
“To start with we have collaborated with Piaggio and the first vehicle will be e-three-wheeler load carriers,” Maini said. This will continue to expand to the two-wheeler and other vehicle segments and other OEMs too. Inclusive of all, the company aims to have one million electric vehicles on board from the Sun Mobility stable, he said.
Maini explained that it will not own the vehicles but will act in collaboration with OEMs and other service providers. Sun Mobility has signed an agreement with government-owned IOCL to provide chargers and battery swapping centres.
Recently at the SIAM convention, Tarun Kapoor, Secretary, Ministry of Petroleum & Natural Gas, Government of India, informed the audience that at least 50,000 retail outlets of IOCL will have EV chargers in the next 3-4 years.
Sun Mobility as a full e-mobility service provider will also bring a fleet of retrofitted electric vehicles too. It also aims to expand the charging station from about 60 right now to 500 by the end of this year and 50,000 by 2025.
On the funding for the expansion of the business, Maini said that the company will first utilise the fund it has raised so far. The German automotive parts giant Bosch has bought 26% stake in SUN Mobility for an undisclosed amount.
“Certainly this will require funds and we will push them from time to time. Right now we will leverage the funds that we have and in due course we are looking at raising more funds to scale up,” Maini said.
Kant said in the next two years the cost of batteries will fall even further thereby bringing down the upfront cost of acquisition for consumers.