TVS Motor Company, one of India’s leading two and three-wheeler manufacturers, has joined forces with ALT Mobility, a startup that calls itself India’s largest full-stack EV leasing and lifecycle management provider.
Together, the companies plan to lease and deploy up to 3,000 electric three-wheelers—both passenger and cargo models—across India during the financial year 2025–26. This collaboration is seen as a strong push for sustainable last-mile and urban mobility.
Leasing and Deployment
As part of the agreement, TVS will provide the vehicles, while ALT Mobility will take care of procurement, leasing, and financing through its ecosystem. The vehicle models, specifications, and variants will be finalized jointly, ensuring they meet real-world customer needs.
The deployment will be carried out through TVS Motor’s nationwide network of authorised dealers and ALT Mobility’s sales points across different regions of India, making the vehicles widely accessible to both individual drivers and fleet operators.
Drive-to-Own Model
One of the key highlights of this partnership is ALT Mobility’s Drive-to-own leasing model. This initiative will allow drivers and fleet operators to lease the electric three-wheelers for both passenger transportation and cargo delivery.
By reducing upfront ownership costs and providing an affordable lease model, ALT is enabling drivers to adopt electric vehicles easily, creating a path toward ownership and financial independence.
Smart Fleet Solutions
ALT Mobility has designed the partnership around its integrated asset management platform. This includes features like 24/7 vehicle monitoring, predictive maintenance, and performance tracking.
Such systems are expected to minimize breakdowns, reduce downtime, and enhance overall vehicle uptime. In turn, this ensures better earning potential for drivers and stronger fleet utilization for operators.
Leaders Speak
According to Rajat Gupta, Business Head – Commercial Mobility at TVS Motor, this step marks a major milestone for the company. “This collaboration with ALT Mobility is a significant step towards enabling sustainable urban and last-mile mobility at scale,” he said.
He added that TVS Motor’s advanced electric three-wheeler portfolio has been engineered for longer range, faster charging, and greater durability, offering businesses and drivers a reliable and cost-efficient alternative.
Financial Inclusion Drive
Sharing his thoughts, Anuj Gupta, Co-founder and CBO of ALT Mobility, said the company is building solutions that combine sustainable mobility with financial inclusion.
He explained that by working with TVS Motor, ALT gains access to proven vehicles and cutting-edge technology, allowing them to scale fleet operations effectively. Through the Drive-to-own model and leasing options, ALT aims to ensure vehicle uptime, steady earnings, and sustainable livelihoods for thousands of drivers.
About ALT Mobility
Founded in 2021 by Dev Arora, Anuj Gupta, Manas Arora, Harsh Goyal, and Jayant Gupta, ALT Mobility is a fast-growing startup in the EV ecosystem. It describes itself as India’s largest full-stack electric vehicle leasing and lifecycle management company.
In January 2024, ALT Mobility raised $6 million in a funding round co-led by Shell Ventures, Eurazeo, EV2 Ventures, and Twynam. Its approach combines financing, leasing, maintenance, and fleet management into a single integrated solution, making EV adoption smoother for businesses and drivers.
The partnership between TVS Motor and ALT Mobility is not just about electric three-wheelers—it represents a shift toward cleaner, affordable, and inclusive transportation. With the Indian logistics and passenger mobility sector growing rapidly, such collaborations can play a vital role in shaping the future of urban mobility.
