partnership between TVS Motor and ALT Mobility for implementation of 3,000 electric rickshaws in the fiscal year 2026
TVS Motor Company, a leading Indian automotive manufacturer, has joined forces with ALT Mobility, India's largest full-stack EV leasing and lifecycle management provider. This partnership is a significant step towards enabling sustainable urban and last-mile mobility at scale, according to Rajat Gupta, Business Head - Commercial Mobility at TVS Motor Company.
The collaboration aims to deploy up to 3,000 TVS electric three-wheelers, both passenger and cargo, by the fiscal year 2025-26. These electric vehicles will be rolled out through TVS Motor's extensive network of authorized dealers and ALT's point of sales across India.
TVS Motor Company will provide the vehicles, while ALT Mobility will procure, lease, and finance them through its ecosystem. This approach is designed to ensure higher vehicle uptime, stronger asset utilization, and greater earning potential for drivers and operators.
ALT Mobility's integrated asset management offering includes 24/7 vehicle monitoring and predictive maintenance to reduce breakdowns and downtime. Through the Drive-to-own leasing model and integrated lease offerings, ALT Mobility is making electric vehicle adoption seamless for drivers and fleets.
ALT Mobility's founding members include Dev Arora, Anuj Gupta, Manas Arora, Harsh Goyal, and Jayant Gupta. Anuj Gupta, Co-founder & CBO of ALT Mobility, has expressed commitment to building scalable solutions that integrate sustainable mobility with financial inclusion.
Last year, ALT Mobility raised $6 million in a funding round, which was co-led by notable investors Shell Ventures, Eurazeo, EV2 Ventures, and Twynam.
TVS Motor Company's electric three-wheeler portfolio is engineered for superior range, faster charging, and durability. The models, variants, and specifications of these electric three-wheelers will be jointly finalized to best serve customer needs.
However, the search results do not provide information about which cities in India will receive electric three-wheelers for leasing through the cooperation between TVS Motor Company and ALT Mobility.
This partnership between TVS Motor Company and ALT Mobility is designed to build a stronger zero-emission logistics' ecosystem for the country. The electric three-wheelers will be deployed under ALT's Drive-to-own leasing model to individual drivers and fleet operators for cargo and passenger transportation.
This collaboration is a significant stride towards promoting sustainable urban mobility in India and reinforces both companies' commitment to a greener future.
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