Ex-DealShare chief Kamaldeep Singh joins Indofast as CEO
By Abha Lohia ·
PeopleMobility & Logistics
- Indofast Energy offers battery-as-a-service for electric vehicles, a joint venture of IndianOil and SUN Mobility
- Kamaldeep Singh, who ran DealShare since January 2024, has been named its new chief executive
- He spent about fifteen years at Big Bazaar and Future Group before DealShare, which now faces acquisition talks
What happened
- Kamaldeep Singh is the new CEO of Indofast Energy.
- He left DealShare, where he was CEO from January 2024.
- Both Indofast and SUN Mobility confirmed the move.
Why it matters
- Indofast is a 50:50 venture of IndianOil and SUN Mobility.
- DealShare's online business has declined and it is in talks with Truemeds.
- He will lead Indofast's expansion.
The business
- Indofast provides battery swapping for EVs.
- Users exchange empty batteries for charged ones.
Other articles talking about it
Terms in this story
- Mergers and acquisitions: An acquisition is when one company buys another, and a merger is when two companies combine into one. For most Indian startups, being acquired is a more likely exit than going public.
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