TVS Motor Company has signed a Memorandum of Understanding (MoU) with ALT Mobility, a leading leasing and asset management firm, to lease and deploy up to 3,000 electric three-wheelers (e-3Ws) across India during FY 2025–26.
Under the agreement, TVS Motor will manufacture and supply the vehicles, while ALT Mobility will procure, finance, and lease them through its ecosystem. The partnership will cover both passenger and cargo three-wheeler models, with specifications and variants jointly finalized to best meet customer requirements. Vehicles will be distributed through TVS Motor’s extensive dealer network and ALT’s sales points across the country.
Innovative Leasing Model
The e-3Ws will be offered under ALT Mobility’s “Drive-to-Own” leasing model, which enables both individual drivers and fleet operators to access the vehicles for urban passenger transport as well as cargo movement.
At the core of the initiative lies ALT’s integrated asset management platform, which offers 24×7 vehicle monitoring, predictive maintenance, and downtime minimization. This ensures better vehicle health, higher uptime, and improved asset utilization, directly enhancing drivers’ earning potential.
Driving Sustainable Mobility
Commenting on the partnership, 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.”
The partnership aligns with India’s growing push for electrification in last-mile transportation, as companies increasingly focus on sustainable mobility solutions to reduce emissions and operating costs.
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