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 24x7 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, Mr. 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, Mr. 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.
About TVS Motor Company
TVS Motor Company (BSE:532343 and NSE: TVSMOTOR) is
a reputed two and three-wheeler manufacturer globally, championing progress
through sustainable mobility with four state-of-the-art manufacturing facilities
located in India and Indonesia. Rooted in our 100-year legacy of trust, value,
and passion for customers, it takes pride in making internationally accepted
products of the highest quality through innovative and sustainable processes.
TVS Motor is the only two-wheeler company to have won the prestigious Deming
Prize. Our products have led in their respective categories in the J.D.Power
IQS & APEAL surveys and J.D.Power Customer Service Satisfaction Survey. Our
group company Norton Motorcycles, based in the United Kingdom, is one of the
most emotive motorcycle brands in the world. Our subsidiary in the
personal e-mobility space, TVS Ebike Company AG, has a leading position in
the e-bike market in Switzerland. TVS Motor Company endeavours to deliver
the most superior customer experience across 80 countries in which we
operate. For
more information, please visit www.tvsmotor.com
About ALT Mobility
Founded in 2021 and headquartered in
New Delhi, India, Alt Mobility is a full-stack electric fleet leasing platform
that drives rapid EV adoption through asset management. With a fleet of 13,000
vehicles across 20 Indian cities leased to fleet operators and drivers, the
company offers a comprehensive solution, including leasing, servicing,
charging, real-time fleet monitoring, and data-driven insights to ensure low
total cost of ownership and maximum fleet uptime. For more information, please
visit www.alt-mobility.com.