New Delhi: TVS Motor Company has partnered with EV leasing startup ALT Mobility to deploy 3,000 electric three-wheelers during FY 2025–26. The agreement covers both passenger and cargo variants, aimed at supporting last-mile and urban transport.
Under the partnership, TVS will supply the vehicles while ALT Mobility will handle procurement, leasing, and financing through its ecosystem. The companies said they will jointly decide on the models and specifications to align with customer demand. The rollout will take place through TVS Motor’s dealership network and ALT’s sales channels across India.
The vehicles will be offered under ALT’s “Drive-to-own” leasing model, which targets individual drivers and fleet operators. The startup said its integrated asset management system, including round-the-clock vehicle monitoring and predictive maintenance, is intended to reduce breakdowns and improve vehicle uptime. This approach, according to the company, is expected to enhance asset utilization and income potential for drivers.
Industry observers note that leasing models like ALT’s are becoming central to EV adoption in the commercial mobility segment, particularly for small operators who face high upfront costs of purchase. Such partnerships indicate a shift toward ecosystem-led growth in India’s electric vehicle sector, where financing, after-sales service, and fleet utilization play as critical a role as vehicle technology itself.
ALT Mobility, founded in 2021, had raised $6 million in a funding round last year co-led by Shell Ventures, Eurazeo, EV2 Ventures, and Twynam. The startup positions itself as a full-stack EV leasing and lifecycle management provider, focusing on financial inclusion in the mobility space.
For TVS Motor, the move aligns with its broader strategy to strengthen its electric mobility portfolio and tap into the fast-growing segment of three-wheeler electrification, especially in last-mile logistics and shared mobility.
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