Indofast Energy is extending its network of battery swapping franchises across India

Indofast Energy is introducing a franchise business in order to diversify its battery-swapping network across the country. The initiative will be focussing towards entrepreneurs and business owners and are expecting estimated returns of up to 30%, based on location and format. 

The company is currently planning to increase its operations specifically in Tier-I and Tier-II cities which includes cities like Jaipur, Mumbai, Pune, Bengaluru, Hyderabad, and Chennai. 

Indofast Energy is a 50:50 joint alliance between IndianOil Corporation Limited and SUN Mobility. It has a business model of Battery-As-A-Service (BaaS) which involves developing and operating battery-swapping infrastructure for two-wheelers, three-wheelers, and small-four wheelers. 

The company has established a network of more than 200 franchise partner stations across 12 cities. This franchise model states that partners can establish battery swap stations with space utilization of approximately 250 square feet with an investment ranging between Rs 10 lakh to Rs 40 lakh. 

Indofast Energy will be providing three options to the franchise owners, which will allow them to select the format based on their available space and investment limit. The company is expecting a return between 1.7x to 2.7x 

Indofast Energy will also provide extra support which includes site assessment, setup, and operational assistance. It also comes with a referral programme for existing partners. Below is the list of options for the franchise business. 

• Swap Point
• Swap Hub
• Swap Junction