TVS Motor Company, a global leader in two- and three-wheeler manufacturing, has signed a Memorandum of Understanding (MoU) with ALT Mobility, a leading fleet leasing and asset management platform, to deploy up to 3,000 electric three-wheelers (Passenger & Cargo variants) during FY 2025–26. Under the partnership, TVS Motor Company will supply the vehicles, while ALT Mobility will procure, finance, and lease them through its nationwide ecosystem. The models and configurations will be jointly finalised to match customer requirements, and the vehicles will be made available via TVS’ dealer network and ALT’s sales channels across India.
The deployment will follow ALT’s Drive-to-Own leasing model, enabling both individual drivers and fleet operators to adopt electric vehicles for cargo and passenger transport. ALT’s integrated asset management system—featuring round-the-clock monitoring and predictive maintenance—will ensure maximum vehicle uptime, higher utilization, and stronger earnings potential for users.
Rajat Gupta, Business Head – Commercial Mobility, TVS Motor Company, said “This collaboration with ALT Mobility is an important milestone in scaling sustainable last-mile and urban mobility solutions. Our electric three-wheeler range has been engineered for superior durability, faster charging, and extended range. Partnering with ALT allows us to make clean mobility more accessible while contributing to environmental goals and driver livelihood creation.”
Anuj Gupta, Co-founder & CBO, ALT Mobility, added “Our mission is to integrate sustainability with financial inclusion. By joining forces with TVS Motor Company, we gain access to industry-leading technology that strengthens our ability to scale leasing and fleet operations. Through our Drive-to-Own model and full-service lease offerings, we are making EV adoption seamless while supporting driver incomes and advancing India’s zero-emission mobility ecosystem.”
ALT’s all-inclusive leasing plan covers maintenance, insurance, roadside assistance, servicing, challan and fitness management, providing a hassle-free experience for users. The collaboration aims to accelerate clean mobility in both logistics and passenger segments, creating socio-economic value while contributing to India’s electric transition.
TVS Motor Company is a leading global manufacturer of two- and three-wheelers with four modern manufacturing facilities in India and Indonesia. With a legacy of over 100 years, TVS Motor is the only two-wheeler company to have won the prestigious Deming Prize. Its products consistently rank high in J.D. Power IQS & APEAL surveys and the Customer Service Satisfaction Survey. The company operates in over 80 countries and owns Norton Motorcycles in the UK as well as TVS Ebike Company AG in Switzerland.
Founded in 2021 and headquartered in New Delhi, ALT Mobility is a full-stack electric fleet leasing company driving EV adoption through asset management. With a fleet of over 13,000 vehicles deployed across 20 Indian cities, ALT provides comprehensive solutions including leasing, servicing, charging, real-time monitoring, and data-driven insights—ensuring low total cost of ownership and maximum fleet uptime.
