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Indofast Energy has announced the appointment of Kamaldeep Singh as its Chief Executive Officer (CEO) on Thursday. Singh will lead the company operational expansion, with a focus on scaling its nationwide battery swapping network and improving unit economics across its Battery-as-a-Service (BaaS) operations.
Singh brings over two decades of experience in P&L management, consumer businesses, and distributed retail operations. Previously, he served as the CEO of Big Bazaar and the e-commerce platform DealShare.
Commenting on his appointment, Singh said he looks forward to rapidly expanding the company battery swapping network across the country and making EV refuelling seamless and instantaneous for users across India. His focus will be on providing a convenient and hassle-free battery swapping experience for electric vehicle (EV) users.
Indofast Energy is a 50:50 joint venture between Indian Oil Corporation (IOCL) and SUN Mobility. The company primarily operates under the Battery-as-a-Service (BaaS) model for electric vehicles, allowing users to access batteries through a service-based model rather than purchasing them outright. Its battery swapping network enables EV users to replace discharged batteries with fully charged ones, helping reduce downtime and make electric mobility more convenient.
