Indian Oil Corporation Limited (IndianOil) has forged a groundbreaking joint venture with Sun Mobility Pte. Ltd. (SMS), setting the stage for a revolutionary battery swapping business in India. This alliance aims to enhance the electric mobility landscape, focusing on retrofitting and creating a robust aggregator ecosystem.
The deal, finalized on June 5, 2024, was orchestrated by a dedicated team from Shardul Amarchand Mangaldas & Co. Leading the transaction were Prashant Sirohi, Partner, alongside Senior Associates Sourav Naug and Aditya Mitra, and Associate Jasmeet Minocha. Competition law matters were overseen by Partner Aman Singh Sethi, with support from Associates Rohan Bhargava, Sakshi Agarwal, and Janhavi Singh. Intellectual Property concerns were managed by Partner Apoorva Murali, Counsel Maidini Phul, and Associates Luma Abbas and Sushain Sobti.
Sun Mobility’s legal counsel, Trilegal, provided their expertise on the transaction’s legal nuances.
This strategic partnership is set to drive significant advancements in India’s electric mobility sector, leveraging the strengths of both IndianOil and Sun Mobility to promote sustainable transportation solutions.
