Bosch picks up stake in SUN Mobility

Bosch, a provider of technology and services in the mobility ecosystem, through its investment vehicle Robert Bosch Investment Nederland B.V., has acquired a 26% stake in Bengaluru-based startup SUN Mobility. The company has not disclosed the deal value.

With its global reach, Bosch is focused on enabling electrification within its four-pillar approach towards mobility – Personalised, Automated, Connected and Electrified. Bosch and SUN Mobility intend to address critical challenges pertaining to the adoption of electromobility, the company said in a statement.

Adding to this, Soumitra Bhattacharya, President of Bosch Group in India said, “Bosch engagement with SUN Mobility complements our shared vision towards the growth of Electromobility. 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.”

Speaking on the occasion, Chetan Maini, Co-Founder and Vice-Chairman, SUN Mobility 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.”