TVS Motor partners with EV startup ALT Mobility to deploy 3,000 electric three-wheelers in FY26

TVS Motor Company, a two and three-wheeler manufacturer, has partnered with ALT Mobility, a startup that calls itself India's largest full-stack EV leasing and lifecycle management provider.

Advertisment

The partnership aims to enable the leasing and deployment of up to 3,000 TVS electric threewheelers, both passenger and cargo, during FY 2025–26.

TVS said it will provide vehicles, while ALT Mobility will procure, lease, and finance them through its ecosystem. The models, variants, and specifications will be jointly finalised to best serve customer needs, and the vehicles will be rolled out through TVS Motor’s extensive network authorised dealers and ALT’s point of sales across India.

The vehicles will be deployed under ALT’s Drive-to-own leasing model to individual drivers and fleet operators for Cargo and Passenger transportation.

ALT said the partnership is anchored in its integrated asset management offering, which includes 24/7 vehicle monitoring and predictive maintenance to reduce breakdowns and downtime. The approach, the company added, ensures higher vehicle uptime, stronger asset utilization, and greater earning potential for drivers and operators.

Rajat Gupta, Business Head – Commercial Mobility, TVS Motor Company, said, “This collaboration with ALT Mobility is a significant step towards enabling sustainable urban and last-mile mobility at scale. Our advanced electric three-wheeler portfolio, engineered for superior range, faster charging, and durability, is designed to empower businesses and drivers with reliable, clean, and cost-efficient solutions.”

Anuj Gupta, Co-founder & CBO, ALT Mobility, said:, “We are committed to building scalable solutions that integrate sustainable mobility with financial inclusion. Partnering with TVS Motor Company gives us access to industry-leading vehicles and technology, which will help us scale our leasing and fleet operations effectively. Through the Drive-to-own model and our integrated lease offerings, we are making electric vehicle adoption seamless for drivers and fleets — ensuring uptime, assured earnings, and a sustainable livelihood, while building a stronger zero-emission logistics’ ecosystem for the country.”

It's worth mentioning that Alt Mobility had raised $6 million in a funding round in January last year, co-led by notable investors Shell Ventures, Eurazeo, EV2 Ventures, and Twynam.  

It was founded in 2021 by Dev Arora, Anuj Gupta, Manas Arora, Harsh Goyal, and Jayant Gupta.