Battery Swapping Business

Shardul Amarchand Mangaldas & Co. advised Indian Oil Corporation Limited (“IndianOil”) in the formation of a joint venture with Sun Mobility Pte. Ltd. (“SMS”) for undertaking battery swapping as a service business in India. With this joint venture, IndianOil and SMS will also focus on other initiatives such as retrofitting and developing aggregator eco system to promote electric mobility in India. The deal was signed on June 5, 2024.

The transaction team was led by Prashant Sirohi, Partner; Sourav Naug, Senior Associate; Aditya Mitra, Senior Associate; and Jasmeet Minocha, Associate.

The competition team was led by Aman Singh Sethi, Partner; Rohan Bhargava, Associate; Sakshi Agarwal, Associate; and Janhavi Singh, Associate.

Apoorva Murali, Partner; Maidini Phul, Counsel; Luma Abbas, Associate; and Sushain Sobti, Associate advised on the Intellectual Property aspects of the transaction.

Sun Mobility Pte. Ltd was advised by Trilegal on the legal aspects.

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