Kamaldeep Singh, former chief executive officer of DealShare, has taken over as CEO of Indofast Energy, where he will lead the company’s growth strategy and the expansion of its electric vehicle battery-swapping network across India.
His appointment marks a move from organised retail and e-commerce into the energy and mobility sector. Singh brings more than 25 years of experience building and transforming consumer-facing businesses, including leadership roles at DealShare and Future Group, where he led Big Bazaar and served as President of the Food & FMCG business.
Indofast Energy is a 50:50 joint venture between IndianOil Corporation and SUN Mobility. The partnership combines IndianOil’s nationwide infrastructure and reach with SUN Mobility’s battery-swapping technology, with the aim of making electric mobility more accessible and practical for users.
In a LinkedIn post announcing his new role, Singh said the opportunity lay in bringing together the strengths of both partners to build an energy and mobility platform at a national scale. He also emphasised the importance of making the shift to electric mobility simpler for customers by improving access, reliability, convenience and affordability.
Indofast Energy operates a battery-as-a-service model, under which compatible electric vehicles can exchange depleted batteries for charged ones at swapping stations. The approach can reduce waiting time compared with conventional charging and is particularly relevant for high-utilisation vehicles, including those used for deliveries and commercial transport, where time off the road can affect productivity.
In his new role, Singh will focus on accelerating business expansion, strengthening the company’s market presence and building a scalable operating model. The task involves growing the swapping network while developing the partnerships and operational capabilities needed to support a larger base of electric vehicles.
The appointment comes alongside a leadership change at SUN Mobility. The company has named Satish Sundaresan as its CEO, with responsibility for engineering, manufacturing operations and global sourcing. Singh’s mandate will centre on Indofast Energy’s business operations and nationwide expansion, while Sundaresan will lead SUN Mobility’s technology and manufacturing priorities.
Singh’s move brings experience in consumer operations and large-scale retail to a business seeking to expand the infrastructure behind electric mobility. As battery swapping develops as an alternative to conventional charging, Indofast Energy’s growth will depend on building a reliable network and making the service convenient and economically viable for customers and fleet operators.
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