Bosch acquires 26% stake in Sun Mobility

Bosch acquires 26% stake in Sun Mobility

18 October 2020 03:55 pm

 

One of the largest Tier 1 automotive companies, Bosch Gmbh has acquired 26% stake in Bengaluru based battery service provider, Sun Mobility. Bosch through its investment arm, Robert Bosch Investment Nederland B.V. invested an undisclosed amount for the stake. This investment comes as part of Bosch focusing on growth pillars in mobility sector, which includes personalized, automated, connected and electrified technologies.

Speaking about the investment president of Bosch Group in India, Soumitra Bhattacharya said, “Bosch engagement with Sun Mobility complements our shared vision towards the growth of electro mobility. At Bosch, we firmly believe that the diverse powertrain technologies will continue to coexist. A mix of combustion engines and electrification will be needed for a highly efficient mobility ecosystem.”

Sun Mobility is a Bengaluru based energy and infrastructure provider for electric mobility. The company operates battery-swapping stations across 11 cities in India. Sun Mobility’s co-founder and vice chairman Mr. Chetan Maini said, “This is a significant milestone for Sun Mobility as we are joined by Bosch, a leader in the mobility ecosystem, in our march towards the future of mobility. This reaffirms our mission to build a cost-effective and convenient energy infrastructure solution to accelerate the adoption of EVs in India and the world.”

In 2017, Uday Khemka, promoter of SUN Group and Chetan Maini co-founded Sun Mobility with an aim to make electric vehicles affordable and accessible for everyone. 

Sri Lanka’s Ideal Group is a distributor for Bosch Diesel systems in Sri Lanka. Ideal Group with its Ideal First Choice network caters to end-to-end needs of customers from Bosch spare parts, after sales services and has established 24 collection points for Bosch Diesel systems. Ideal First Choice recently opened an exclusive Bosch service center in Colombo further reinforcing the customers with repair and spare parts services. 

Commenting on the future prospects of the Bosch-Sun Mobility strategic alliance, Nalin Welgama, Founder/Chairman of Ideal Group said: “Ideal Group through Ideal First Choice partners with Bosch in Sri Lanka. Ideal Group also maintains a strong relationship with Sun Mobility from its inception. Therefore, this strategic alliance will no doubt bode well for Sri Lanka in numerous ways in the future.”

Ideal Group Story

Reflecting the values and passions of its leaders, the Ideal Group has grown exponentially over the last twenty years. Establishing itself as a front-runner in the automotive industry. The Ideal Group has also diversified into a host of other growing industries tipped to change the landscape of technology and business over the next few years.

What makes the Ideal Group different is its focus on diversification, the extended family culture within the company, its dedication to maintaining the highest quality after care services and its unwavering focus on furthering the living standards and opportunities in Sri Lanka.

The culture inculcated at the Ideal Group is that of empowerment, family values and a sense of community, the success of which is evident in the fact that the Ideal Group has – in a far shorter span of time – put itself on par with similar companies that have been in existence for much longer.

The success of the Ideal Culture stems from the vision, passion and drive of its founders, who believe in hiring individuals who are passionate about their field and are looking to not only grow their careers but also to expand the scope of the industry they work in. The extended family concept that employees grow with within the Ideal Group becomes the infrastructure that facilities employees giving 100% each day and excelling in their chosen fields.

The company-wide dedication to excellence is reflected in the above par aftermarket services offered by every SBU under the Ideal Group. Equipped with an unmatched network of dealers and service points across Sri Lanka and powered by graduates of the Ideal Motors Technical Training Center, the Ideal Group offers the largest network of repair/ service centers island wide, 24 hour break – down assistance teams and state of the art multi-brand and specific brand after sales services.

This network is the backbone of the Ideal Group’s highly successful community development initiatives. Dedicated to eradicating abject poverty and establishing a higher standard of living facilities and quality of life across the nation, the Ideal Group steps in wherever they identify a specific need, both as a business and as individuals - a fact  that is a great source of pride for its founders who strongly believe in the need to give back to Sri Lanka and help develop the opportunities for growth and empowerment across the island.

This translates into a strong sense of community. Not only are employees given the highest quality training, they are encouraged to follow the company-wide commitment to bettering communities and giving back to the country that has so benefited them. This has been successful in the fact that Ideal Group employees have been known to carry out personal charity projects on a small scale – independent of those initiated by the founders and the company.

The Ideal Group is truly different in that it is a collective of individuals who have been guided and molded to achieve the very best on many levels : for themselves and their extended family at Ideal, for their industries and communities and for Sri Lanka as a whole.