TVS Motor Company Partners with AltMobility to Deploy 3,000 Electric Three-Wheelers in FY 2025

TVS Motor Company, one of India’s leading two- and three-wheeler manufacturers, has announced a strategic partnership with AltMobility, a leading leasing and asset management company, to accelerate the adoption of electric mobility in the country. Under this collaboration, both companies will deploy 3,000 electric three-wheelers (E-3Ws) within the current financial year.

Partnership Structure

As part of the agreement:

• TVS Motor Company will supply the electric three-wheelers, designed for reliability, efficiency, and sustainable performance.
• AltMobility will procure, lease, and finance the vehicles through its innovative asset management platform.

This partnership will operate under AltMobility’s “Drive-to-Own” leasing model, which allows individual drivers and fleet operators to lease the vehicles with flexible financing options. Over time, ownership is transferred to the drivers, creating a more accessible pathway to vehicle ownership without the heavy upfront financial burden.

Use Cases: Cargo and Passenger Transportation

The 3,000 E-3Ws will be deployed across India for both cargo delivery and passenger transport.

• Cargo Segment: These vehicles will cater to the growing need for sustainable last-mile logistics in e-commerce, FMCG, and retail distribution.
• Passenger Segment: Drivers and fleet operators will benefit from affordable electric mobility solutions for shared and city-based passenger transport.

Driving EV Adoption and Sustainability

The initiative aligns with India’s larger goal of electrifying transportation and reducing dependency on fossil fuels. By making EV ownership more financially viable, this partnership addresses a key barrier—high upfront costs—that often discourages adoption among drivers and small fleet operators.

In addition to cost benefits, the deployment of 3,000 E-3Ws will significantly contribute to reducing urban air pollution and carbon emissions, supporting the country’s sustainability commitments.

Industry Impact

This collaboration represents a win-win for all stakeholders:

• Drivers and Fleet Operators gain access to affordable EVs with structured leasing and ownership options.
• TVS Motor Company strengthens its presence in the electric three-wheeler segment, a high-growth category in India.
• AltMobility expands its leasing footprint while enabling sustainable mobility solutions.

Conclusion

With this partnership, TVS Motor Company and AltMobility are not just deploying vehicles, but also creating an ecosystem that supports the financial and operational needs of drivers, while advancing India’s clean mobility agenda. By rolling out 3,000 electric three-wheelers in the current fiscal year, the collaboration is set to play a pivotal role in shaping the future of urban transportation.

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