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Kamaldeep Singh, former chief executive officer of DealShare, has joined Indofast Energy, a joint venture between Indian Oil Corporation (IndianOil) and SUN Mobility, as its CEO. Singh announced his new role in a LinkedIn post. He said he would focus on building an energy and mobility platform at a national scale by combining IndianOil’s nationwide presence with SUN Mobility’s technology capabilities. “I am excited to begin a new chapter as CEO of Indofast Energy,” Singh said. He added that the company aims to simplify the transition to electric mobility by making energy accessible, reliable, convenient and economically viable. The appointment comes after Singh’s exit from DealShare, which Entrackr exclusively reported in August. Entrackr also reported that the struggling ecommerce startup was in acquisition talks with online pharmacy platform TrueMeds and meat and seafood e-retailer Captain Fresh as it faced the prospect of a shutdown. Talks with TrueMeds were more advanced than those with Captain Fresh, although neither transaction had been finalised at the time. Singh brings more than 25 years of experience in building and transforming consumer businesses. Before joining DealShare, he served as CEO of Big Bazaar and held leadership roles at Future Group. Indofast Energy operates in the electric vehicle battery swapping segment. The company is a 50:50 joint venture between IndianOil and SUN Mobility. It combines IndianOil’s nationwide presence with SUN Mobility’s battery swapping technology. Its battery as a service (BaaS) model allows electric vehicle users to exchange depleted batteries for charged ones, which reduces the time required to recharge vehicles. As CEO, Singh will lead the company’s efforts to expand its battery swapping network across India, with a focus on business growth and a scalable operating model. Separately, SUN Mobility has appointed Satish Sundaresan as its CEO. Sundaresan will lead engineering, manufacturing operations and global sourcing, while Singh will oversee Indofast Energy’s operations and expansion.
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