TVS Motor Company has partnered with ALT Mobility, India’s largest EV leasing and lifecycle management provider, to lease and deploy up to 3,000 electric three-wheelers in FY2025–26. The tie-up spans both passenger and cargo categories, aiming to accelerate adoption of sustainable last-mile mobility.
Partnership Snapshot
- Scale – Up to 3,000 EV three-wheelers in FY25–26
- Model – Drive-to-own leasing for drivers & fleet operators
- Deployment – Through TVS dealers & ALT’s sales network nationwide
- Support – 24/7 monitoring, predictive maintenance, assured uptime
The Collaboration
TVS will provide its advanced EV three-wheeler portfolio, engineered for longer range, faster charging, and higher durability. ALT Mobility will handle procurement, leasing, and financing, while integrating asset management tools to reduce downtime and enhance earning potential for drivers.
The Edge
For ALT, the partnership builds on its $6 million raise in January 2024, led by Shell Ventures and Eurazeo. Founded in 2021, the startup has positioned itself as a full-stack EV leasing provider, combining financial inclusion with sustainability.
For TVS, the move strengthens its presence in India’s growing EV fleet and last-mile logistics segment, an area expected to expand rapidly as businesses push for zero-emission delivery.
Market Watch
As India scales its EV adoption goals, partnerships like this offer a path for drivers to own and operate EVs with reduced upfront risk. With integrated asset management and leasing, the model could accelerate commercial EV penetration beyond urban hubs.
Final Take
The TVS–ALT partnership blends manufacturing strength with innovative leasing—unlocking sustainable livelihoods for drivers while expanding India’s zero-emission logistics ecosystem.
Stay curious. Stay ambitious. Stay connected with StartupStoryindia.
