Kamaldeep Singh Joins Indofast Energy as CEO
Kamaldeep Singh, the previous chief executive officer of DealShare, has now been appointed as the CEO of Indofast Energy, a collaborative initiative between Indian Oil Corporation (IndianOil) and SUN Mobility. His announcement regarding this new position was made via a post on LinkedIn. Singh intends to develop a comprehensive energy and mobility platform on a national scale, utilising IndianOil’s extensive reach combined with SUN Mobility’s technological expertise.
Singh expressed his enthusiasm for starting this new role, highlighting his commitment to facilitating an easier transition to electric mobility by ensuring energy is accessible, dependable, convenient, and financially viable.
This appointment follows Singh’s departure from DealShare, which was exclusively reported by Startup Superb in August. The publication also indicated that the struggling ecommerce company was exploring acquisition options with the online pharmacy TrueMeds and the meat and seafood e-retailer Captain Fresh, given the looming threat of shutdown. Although the discussions with TrueMeds were reportedly more advanced, no transactions were finalised at that point.
Kamaldeep Singh’s Experience
Bringing over 25 years of expertise in developing and transforming consumer-focused businesses, Singh previously held the role of CEO at Big Bazaar and was part of leadership teams at Future Group before his stint with DealShare.
About Indofast Energy
Indofast Energy operates within the electric vehicle battery swapping sector. It is a 50:50 joint venture between IndianOil and SUN Mobility, combining the extensive presence of IndianOil with the innovative battery swapping technology from SUN Mobility. Its Battery as a Service (BaaS) model allows electric vehicle users to quickly swap out depleted batteries for charged ones, significantly cutting down the recharging time for vehicles.
Future Goals as CEO
In his role, Singh will spearhead efforts to broaden the company’s battery swapping network throughout India, concentrating on growth and creating a scalable operational model.
Leadership Changes at SUN Mobility
In another development, SUN Mobility has appointed Satish Sundaresan as CEO. Sundaresan will manage engineering, manufacturing operations, and global sourcing, while Singh focuses on operational management and expansion at Indofast Energy.