SUN Mobility– Company Profile

SUN Mobility was launched in 2017 with the mission to build the much needed energy infrastructure for Electric Vehicles (EVs) and to promote the use of renewable energy sources such as solar energy. Headquartered in Bengaluru, SUN Mobility is focused on designing innovative solutions for EVs. The company is a 50:50 joint venture between Virya Mobility 5.0 and Sun New Energy Systems, the investment arm of SUN Group. The company is currently working with other stakeholders such as fleet operators, automotive OEMs, shared mobility providers, etc. to develop the most cost-effective ways to sustainand promote the use of EVs. The company has developed Smart Batteries, Quick Interchange Stations (QIS) and Smart Network, which are the core components of its energy infrastructure.

History:

Co-founder Chetan Maini had earlier founded Reva, India’s first EV that was later sold to Mahindra & Mahindra (M&M) for a substantial amount in 2010. Chetan had always wanted to deploy renewable energy sources for vehicles, and his mission continued after he sold Reva to M&M. Over the years, Chetan realized that the infrastructure needed to promote the use of EVs was not properly developed. This was the main reason why people were reluctant to buy electric vehicles. Chetan started thinking and he felt that if recharging EVs can be made as easy as refueling a petrol/diesel vehicle, then people would open their minds to EVs. This eventually led to the launch of SUN Mobility, which is currentlyinvolved in the development of energy infrastructure for electric vehicles.

Funding:

SUN Mobility has received funding from various sources.

Acquisitions:

SUN Mobility has not made any acquisitions till date, but is open to bankable opportunities that may emerge in the future.

Competition:

SUN Mobility is a pioneer in the field of energy infrastructure for EVs in India. As such, it does not have any major competitor in the Indian market. Globally, it has to compete with top names like Tesla, Ford, General Motors, Mitsubishi, Nissan, Honda, Toyota, etc. that are also building energy infrastructure for electric vehicles.

About the Founders:

SUN Mobility was founded by Chetan Maini and Uday Khemka. Chetan has more than 20 years of progressive experience in developing electric, hybrid and solar vehicles in USA and India. He has more than 30 global patents to his name, which relate to energy management systems for electric vehicles. Chetan was the founder of Reva, India’s first electric vehicle. He has also been a member of various government committees that were set up to frame policies related to electric vehicles.

Uday Khemka has more than three decades of entrepreneurial and investment experience across emerging markets worldwide. Uday serves as the Vice Chairman of SUN Mobility. He is also the Vice Chairman of SUN Group. He shares a great passion for renewable energy, something that motivated him to join SUN Mobility. Prior to joining SUN Group, Uday had worked with leading names such as Credit Suisse First Boston and Morgan Stanley.