Indofast Energy, the battery-swapping solutions company jointly owned by Indian Oil Corporation Limited (IOCL) and SUN Mobility, has announced key changes to its leadership team as the company prepares for its next phase of growth in India’s rapidly evolving electric mobility sector.
As part of the transition, Anant Badjatya has stepped away from his role as Chief Executive Officer of Indofast Energy. During his tenure, the company expanded its battery-swapping network and strengthened its presence in the electric mobility ecosystem, supporting the adoption of sustainable transportation solutions across the country.
To ensure continuity in operations and strategic execution, Subhash Bhat has been appointed as Interim Chief Executive Officer. Bhat currently serves as the Chief Financial Officer of SUN Mobility and brings extensive experience in finance, business operations, and corporate leadership. His appointment is expected to support Indofast Energy’s ongoing expansion plans and operational growth initiatives.
In another significant leadership move, Rajat Malhan has been elevated to the position of Chief Business Officer (CBO). In his new role, Malhan will be responsible for driving business growth, strengthening customer and partner relationships, expanding market reach, and supporting the company’s commercial strategy.
The leadership changes come at a time when battery-swapping is gaining momentum as a key enabler of electric vehicle adoption, particularly in the two-wheeler and three-wheeler segments. Indofast Energy has been actively working to build a robust battery-swapping ecosystem, leveraging the strengths of its parent companies—Indian Oil’s extensive fuel retail network and SUN Mobility’s battery-swapping technology expertise.
As a 50:50 joint venture between IOCL and SUN Mobility, Indofast Energy aims to accelerate the deployment of battery-swapping infrastructure across India, helping reduce charging times, improve vehicle uptime, and enhance the overall economics of electric mobility.
The latest leadership appointments are expected to strengthen the company’s management structure and support its efforts to scale operations, expand its network footprint, and contribute to India’s transition towards cleaner and more sustainable transportation solutions.
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