TVS Motor Company and ALT Mobility Partner to Deploy 3,000 Electric Three-Wheelers FY 2025–26

NEW DELHI:

TVS Motor Company, a global leader in two and three-wheeler manufacturing, today announced the signing of a Memorandum of Understanding (MoU) with ALT Mobility, a leading leasing and asset management company, to enable the leasing and deployment of up to 3,000 TVS electric three-wheelers (Passenger & Cargo) during FY 2025–26.

As part of this collaboration, TVS Motor Company will provide vehicles, while ALT Mobility will procure, lease, and finance them through its ecosystem. The models, variants, and specifications will be jointly finalized to best serve customer needs, and the vehicles will be rolled out through TVS Motor’s extensive network authorized 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.

At the core of the offering is ALT’s integrated asset management value proposition, which ensures 24×7 vehicle monitoring and pre-emptive maintenance to minimize potential vehicle breakdown or downtime. This leads to top-notch vehicle health, enables higher uptime and therefore better asset utilization for higher earning potential.

Speaking on the occasion, 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. Together with ALT Mobility, it is our endeavour to make electric mobility more accessible while creating a measurable impact on the environment and livelihoods.”

Commenting on the partnership, 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.”

ALT’s all-inclusive lease plan covers key expense areas like maintenance, insurance, roadside assistance, servicing, challan and fitness management, giving vehicle users a hassle-free ownership experience.

The collaboration will serve both last-mile logistics and shared passenger mobility segments, thereby strengthening clean mobility adoption across multiple use cases. The initiative will support driver livelihood creation and small fleet operators, generating socio-economic value while advancing India’s electric mobility transition.