Bosch takes 26% active stake in SUN Mobility

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The global auto component, Bosch, through its Robert Bosch Investment Nederland B, has acquired 26 per cent of the share in SUN Mobility.

Bosch is planning to work together with SUN Mobility and exploiting new prospects in the emerging market, which has globally restructured its business verticals and improving electric car technology.

A 26 per cent stake in the Bangalore based electric vehicle (EV), the German Automotive component manufacturer Bosch has taken up the company SUN Mobility on Friday. It confirmed its investment company Robert Bosch Investment Nederland B.V. in an official statement released by Bosch, that its stake in SUN Mobility was acquired without disclosure of funds.

Bosch aims to jointly work with SUN Mobility and explore new prospects in the evolving market, while globally renovating its business vertical structures and improving technology for EVs.

At the same time, SUN Mobility has already developed battery replacement plants with partner car manufacturers and service providers for ride-hailing such as Ashok Leyland Ltd, Piaggio Vehicles Pvt Ltd, Uber India and others.

The commitment of Bosch about SUN Mobility complements our popular view of electromobility development. We strongly believe that Bosch will continue to exist in various powertrain technologies.

For a highly efficient mobility environment, there will be a combination of combustion engine and electricity, “said Bosch Group President Soumitra Bhattacharya, India.

Chetan Maini, SUN Mobility co-founder and vice president, said Bosch’s investment in his business affirms its commitment to building cost-effective, convenient energy infrastructure to speed up the usage of electrical transmission in India and around the world.

In June, SUN Mobility joined Indian Oil Corporation Ltd (IOCL), India’s largest oil marketing firm, to develop battery exchanging pumps at its fuel pumps for the purpose of providing EV owners instant charging services. Both companies intend to start with the construction of a battery exchange pilot station in one of their outlets in Chandigarh, also known as a fast interchange station (QIS). In addition to adding new towns, the strategy involves increasing it to 20 fuel pumps gradually. In order to tie the EV adoption model into India, the partnership aims at electric three-wheelers and two-wheelers.

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