TVS Motor Company, a global leader in two and three-wheeler manufacturing, has entered into a strategic Memorandum of Understanding (MoU) with ALT Mobility to expand electric mobility solutions in India. Under this collaboration, up to 3,000 TVS electric three-wheelers, including both passenger and cargo variants, will be leased and deployed during FY 2025–26.
As part of this partnership, TVS Motor Company will supply the vehicles, while ALT Mobility will handle procurement, leasing, and financing through its integrated ecosystem. The models, variants, and specifications will be jointly selected to best meet customer requirements, ensuring optimal performance for both cargo and passenger transport. The electric three-wheelers will be rolled out across India through TVS Motor’s authorized dealer network and ALT Mobility’s points of sale.
The vehicles will operate under ALT’s Drive-to-Own leasing model, targeting individual drivers and fleet operators. The model emphasizes 24×7 vehicle monitoring and pre-emptive maintenance, reducing downtime and ensuring top-notch vehicle health. This approach enables higher uptime, better asset utilization, and increased earning potential for users.
ALT Mobility’s all-inclusive lease plan covers essential costs such as maintenance, insurance, roadside assistance, servicing, challan management, and vehicle fitness compliance. This provides a seamless, hassle-free ownership experience for drivers and fleet operators.
This initiative will cater to both last-mile logistics and shared passenger mobility segments, promoting the adoption of clean and sustainable electric vehicles. Beyond environmental benefits, the collaboration is expected to support driver livelihoods and empower small fleet operators, generating significant socio-economic value while accelerating India’s electric mobility transition.
