Indofast, Hala Mobility partner to deploy 1 lakh EVs by March 2028

Battery-swapping solutions provider Indofast Energy on Tuesday said it has partnered with EV-as-Service platform Hala Mobility for the deployment of one lakh electric vehicles by March 2028 with 40,000 vehicles in this financial year alone.

The collaboration is aimed at accelerating India's electric mobility adoption, providing seamless, high-uptime energy solutions for a diverse range of fleet operators and gig economy workers, the company said.

By combining Indofast Energy's battery swapping infrastructure with Hala Mobility's extensive fleet operations, the partnership will offer convenience by effectively eliminating range anxiety and charging downtime, ensuring seamless service delivery for commercial and last-mile delivery fleets, it said.

Indofast Energy is a joint venture between Indian Oil Corporation Ltd and Sun Mobility.

The partnership has already seen significant traction, achieving a rapid scale-up to 15,000 vehicles in less than a year - reflecting the operational viability and fleet-readiness of the swappable battery model for high-utilisation delivery operations, it said.

These 15,000 vehicles are currently operational mostly in Hyderabad, Bengaluru, Delhi-NCR, and Mumbai.

The new deployments are expected to be extended to Pune, Chennai and Jaipur, the company said.

"Reaching 15,000 vehicles in under a year validates that battery swapping is the default choice for fleet operators who prioritise uptime and economics.

"As we scale toward 40,000 vehicles by March 2027 and 1 lakh by 2028, we are building the kind of integrated ecosystem that will define India's commercial EV transition; making swappable battery EVs the most practical and profitable choice for last-mile logistics," said Rajat Malhan, Chief Business Officer, Indofast Energy.

For delivery riders and fleet operators running 80-100 kilometres daily, the two-minute swap directly impacts earnings and fleet productivity, the company said.

This operational advantage, combined with up to 40 per cent lower running costs compared to petrol, makes the partnership model economically compelling for India's growing gig economy workforce, it said.

"Partnering with Indofast Energy allows us to integrate our fleet with robust battery swapping infrastructure, ensuring our riders experience zero downtime and maximum daily earnings," said Srikanth Reddy, Founder, Hala Mobility.

Indofast Energy has a network of over 1,900 swap stations across 24 cities and supports over 120,000 vehicles