Bengaluru, September 15, 2025 – TVS Motor Company, a global leader in two and three-wheeler manufacturing, has signed a Memorandum of Understanding (MoU) with ALT Mobility, a leading leasing and asset management company, to lease and deploy up to 3,000 electric three-wheelers for passenger and cargo mobility during FY 2025–26.

Leasing Model for Cargo and Passenger Segments

Under the partnership, TVS Motor Company will provide its advanced electric three-wheeler portfolio, while ALT Mobility will procure, finance, and lease them across India. Vehicle models and specifications will be jointly finalized to address diverse customer needs.

The deployment will leverage TVS Motor’s authorized dealer network along with ALT Mobility’s point-of-sale ecosystem. The vehicles will be made available under ALT’s innovative “Drive-to-Own” leasing model, designed for individual drivers and fleet operators in both cargo and passenger transport.

Integrated Asset Management for Higher Uptime

ALT Mobility’s integrated asset management platform ensures:

• 24×7 vehicle monitoring
• Pre-emptive maintenance to reduce downtime
• Better vehicle health and higher utilization

This translates into higher earnings for drivers and fleet owners, with assured support for critical operational needs. ALT’s all-inclusive lease plan also covers insurance, maintenance, roadside assistance, challan and fitness management, providing drivers a hassle-free ownership experience.

Leaders Speak on the Collaboration

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, added:

“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.”

Supporting Clean Mobility and Livelihood Creation

The collaboration will benefit both last-mile logistics and shared passenger mobility, helping accelerate India’s transition to clean energy transportation. By empowering small fleet operators and individual drivers, the initiative will also foster livelihood creation and socio-economic impact, while reducing emissions in urban ecosystems.

Key Highlights of TVS Motor – ALT Mobility Partnership

• Deployment of up to 3,000 TVS electric three-wheelers in FY 2025–26
• Drive-to-Own leasing model for drivers and fleet operators
• ALT’s 24×7 vehicle monitoring and pre-emptive maintenance for higher uptime
• All-inclusive lease plans covering maintenance, insurance, and servicing
• Focus on last-mile logistics and shared passenger mobility
• Contribution to India’s electric mobility adoption and driver livelihood generation