India’s shift toward clean mobility is gaining momentum, and electric vehicles (EVs) are at the heart of this transformation. As the country looks for scalable, affordable, and inclusive solutions to reduce its carbon footprint, innovative startups like Alt Mobility are leading the charge by making EV ownership more accessible—especially for gig workers, fleet operators, and small businesses.
In this exclusive interview, we speak with their Founder & CEO, Dev Arora, to understand their vision and journey so far. From launching with the mission to remove barriers to EV adoption, to building a robust EV leasing and asset management platform, Alt Mobility is changing how India drives. The conversation covers their unique leasing model, the tech-driven FleetOS platform, and the Drive-to-Own (DCO) initiative that empowers drivers to become owners.
We also explore their strategic partnerships with top OEMs, the impact of their operations across 30+ cities, and their roadmap for national expansion. With over 10,000 EVs leased, ₹200 crore in fuel savings, and 25,000 metric tonnes of carbon emissions reduced annually, Alt Mobility is not just about vehicles—it’s about creating opportunities, supporting livelihoods, and driving a greener future for India.
Q&A
Q. What inspired you to launch Alt Mobility, and how has the journey been so far in revolutionizing EV leasing in India?
A. Alt Mobility was founded with a clear mission—to accelerate EV adoption in India by addressing the biggest barriers to electrification: accessibility, affordability, and scalability. We are an EV leasing and asset management platform, helping drivers, fleets and businesses transition to clean mobility.
We recognized early on the gaps in terms of how traditional Banks and NBFCs approached EV financing. This prompted us to come up with innovative solutions addressing the needs of not just businesses and fleets, but also individual drivers. With current AUM size of over INR 200 crores, we have leased over 10,000 electric vehicles as on date, across commercial as well as passenger vehicle segments.
Our vehicles have contributed to approximately ₹200 crore in fuel cost savings and offset approximately 25,000 metric tonnes of carbon emissions annually. With a presence in over 30 cities, a network of more than 7,000 charging stations, and over 150 service garages, we are committed to empowering livelihoods and creating opportunities for drivers across India.
Our journey so far has been driven by strong market demand and a need for structured EV financing solutions that make EV ownership a seamless experience for both fleets and drivers. The recent $10 million Series A funding and our plans to raise ₹400 crore in debt underscore our commitment to scaling EV leasing solutions. As we continue expanding, our focus remains on enabling fleets with affordable energy access, driving India’s clean mobility transition for the logistics industry.
Q. How does Alt Mobility’s leasing model stand apart from conventional vehicle leasing services? What makes it unique in the EV ecosystem?
A. Alt Mobility distinguishes itself from traditional vehicle leasing services through its comprehensive approach to electric vehicle (EV) leasing and asset management. We believe that merely enabling access to EVs alone is not enough, drivers need regular guidance and support in order to extract the maximum uptime from their vehicles. EVs being a relatively new technology, drivers need initial hand-holding in terms of vehicle handling, driving habits, charging and service infrastructure in order to maximize vehicle uptime, idling or maintenance expenses.
Some of the key differentiators include:
Integrated Asset Management Platform: Beyond standard leasing, Alt Mobility offers a fully integrated asset management solution. This encompasses vehicle selection, leasing, maintenance, insurance, real-time fleet monitoring, access to charging infrastructure, ensuring a seamless ownership experience for clients. Leveraging advanced technology, Alt Mobility's FleetOS platform offers real-time vehicle tracking, predictive diagnostics, and 24 x 7 roadside assistance. The robust tech platform leverages the power of AI, paving the way to move from predictive to preemptive maintenance. This proactive approach ensures optimal asset health, thereby ensuring high vehicle uptime and improved operational efficiency of the supply chain
Electric Vehicle as a Service (EVaaS): Positioning EVs as tools for income generation, Alt Mobility is focused on empowering drivers by providing reliable electric vehicles that support them in their livelihood journey. While this model facilitates sustainable transportation, it also enhances earning potential for both drivers and fleet operators. Even businesses stand to gain from improved productivity, higher logistics’ efficiency and lower capex burden, thereby improving profitability.
Comprehensive Support and Infrastructure: Clients benefit from 24 x 7 dedicated support for service, repairs, warranty, and insurance claims. Additionally, Alt Mobility's extensive network includes over 7,000 charging stations and 150 service garages across more than 30 cities in India, providing seamless on-ground support for EV operations.
Cost-Effective Leasing Solutions: By offering leasing models that can potentially save clients up to 60% compared to traditional vehicle financing, Alt Mobility makes EV adoption more accessible and economically viable.
Collectively, these features position Alt Mobility as a unique and leading entity in the EV ecosystem, offering solutions that go beyond conventional vehicle leasing to drive sustainable and inclusive growth within the EV industry.
Q. Could you elaborate on the comprehensive leasing packages you offer? How do services like predictive maintenance, insurance, and telematics enhance the overall experience?
A. At Alt Mobility, our leasing solutions go beyond just financing—our goal is to make EV adoption seamless, cost-effective, and operationally efficient for businesses and fleet operators. Our all-inclusive or wet lease model is designed to offer a fully integrated asset management solution powered by AI, IoT, and telematics.
Key Features of Our Comprehensive Leasing Packages included:
- Low Upfront Cost
- Tech-Driven FleetOS Platform: Our proprietary FleetOS platform enables real-time vehicle tracking, predictive diagnostics, and remote monitoring, ensuring asset security, proactive fleet management and minimizing unplanned downtime.
- Predictive Maintenance & Maximum Uptime: Leveraging AI-driven monitoring and analytics, we have moved from predictive to preemptive maintenance, reducing breakdown risks and extending vehicle lifespan by up to 20%. This ensures maximum uptime and asset longevity for fleet operators.
- End-to-End Service & Support: Our 24x7 assistance covers everything from roadside support, insurance management, and warranty claims to charging station access, ensuring a hassle-free ownership experience. We have a vast network of 7,000+ charging stations and 150+ service garages across 20+ cities to keep fleets running smoothly.
- Flexible Ownership Models – Drive-to-Own: Unlike traditional leasing, Alt Mobility’s Drive-to-Own model allows drivers and fleet operators to transition from leasing to ownership at the end of the tenure, empowering them with long-term asset control.
With Alt Mobility’s tech-integrated leasing model, businesses don’t just lease an EV—they gain a complete fleet solution that enhances efficiency, reduces operational costs, and ensures sustainability. By offering data-driven insights, predictive maintenance, and a robust service network, we make EV leasing a smarter, more profitable, and future-ready choice for India’s growing mobility landscape.
Q. The DCO model is empowering drivers to become owners. How does this initiative improve their livelihood, and what kind of financial or operational support do you provide? From what did the idea of coming up with the DCO Model stem from and how it can help in empowering OEMS and Fleet services?
A. The Drive to Own model is a transformative initiative designed to make EV ownership accessible to those traditionally underserved. Many aspiring vehicle owners, particularly drivers working with rented vehicles or employed by fleet operators, face significant roadblocks — lack of credit history, absence of collaterals or guarantors, high upfront down payments, and even a steady income or business to manage loan repayments. The Drive to Own model eliminates these obstacles by offering a structured pathway to ownership with lower entry costs, affordable lease rentals, and an all-inclusive integrated lease framework that covers insurance, maintenance, and uptime.
This initiative not only facilitates EV adoption but ensures financial stability for drivers. With down-payments substantially low as compared to conventional financing, drivers get easy access to not just EVs, but also have the flexibility to structure their repayment plan - weekly or monthly. This helps them manage their operational expenses in a much better way, with many drivers having reported a mindset shift - from being daily wage earners to asset owners and even entrepreneurs. An average electric three-wheeler driver (DCO) can earn anything between ₹1,500-₹2,500 per day; with the only expense being that of daily vehicle charging, translating to monthly earnings up to ₹60,000 with some drivers even reporting incomes up to ₹90,000 per month, proving the financial viability of this approach.
Despite government incentives announced in each fiscal budget, high upfront costs deter many drivers from switching to electric vehicles. Alt Mobility identified this gap and developed a solution that not only empowers individual drivers but also supports OEMs and fleet operators by accelerating EV penetration. By reducing financial barriers and offering end-to-end operational support, the Drive to Own model enhances fleet sustainability, boosts vehicle uptime, and ensures seamless EV integration into logistics and transportation networks. The Drive to Own initiative could be a game-changer in India's transition to sustainable mobility, fostering financial inclusion and creating earning opportunities for thousands of drivers.
Q. Alt Mobility is already operational in 20+ cities. Which regions are you focusing on next, and what is your strategy for nationwide expansion?
A. We are currently operational in over 30 cities in India, primarily focusing on the Delhi NCR region and select cities in Uttar Pradesh. In the second half of 2025, we plan to expand our services to encompass the entire state of Uttar Pradesh, as well as Uttarakhand, Haryana, Maharashtra, and Karnataka for the Drive to Own model, which are seeing the highest rates in EV adoption.
A critical component of our expansion strategy is the establishment of a comprehensive servicing and charging infrastructure to support our vehicles on the road. This includes forming strategic alliances with key players to offer extensive EV charging facilities and 24 x 7 service support for maximum vehicle uptime and operational efficiency for our clients.
Q. What are the major roadblocks in accelerating EV adoption through leasing? How is Alt Mobility tackling these challenges?
A. In addition to the higher cost of EVs, another roadblock that we have identified is the mental barrier around vehicle ownership. With conventional financing models being in existence for years, customers are used to having vehicles registered in their names and hypothecated to the Bank or NBFC. However, with traditional Leasing models, asset ownership is with the leasing company.
Addressing this concern, Alt Mobility designed its Drive To Own model in a way that allows drivers to lease an EV with the option of ownership at the end of the lease term.
Another significant challenge is the financial and technological risks that come with EVs. Drivers are often concerned about unanticipated maintenance costs, battery health degradation or battery replacement, and the overall financial burden of owning an electric vehicle. Alt Mobility addresses these concerns by offering all-inclusive lease plans that allow drivers to focus on their primary job without worrying about unexpected expenses.
Q. What policy changes or industry collaborations do you think are necessary to further drive EV adoption across the country?
A. One of the primary areas that need attention is the reduction of taxes on EVs at both the state and central government levels. Lower taxes will make EVs more affordable for consumers and fleet operators. As the EV volumes continue to grow, it is essential that government policies incentivize the purchase of electric vehicles while ensuring that this transition remains financially accessible to a wider population.
With the recent Budget 2025 announcement, the EV industry is hopeful for the inclusion of financing for electric two-wheelers and three-wheelers under priority sector lending. This would directly benefit gig-economy workers, who often rely on vehicles for their livelihood, enabling them to transition to cleaner vehicles while simultaneously improving their income stability.
We are eagerly looking forward to Delhi EV Policy 2.0, which claims to have bold commitments in setting targets for EV transition. We hope other states adopt similar stage wise transition targets with awareness campaigns, backed with capital subsidies to accelerate EV adoption.
By enabling policies that support financing, infrastructure, research, and innovation, the government can significantly accelerate the country’s transition to sustainable transportation, paving the way for a cleaner, greener future.
Q. Alt Mobility has partnered with key industry players like Piaggio, Euler, Ather, and more. How have these collaborations contributed to scaling your impact and refining your solutions?
A. Alt Mobility’s strategic collaborations with leading industry players such as Piaggio, Euler, Ather, and others have played a pivotal role in scaling its operations and refining its solutions. These partnerships, particularly in the three-wheeler (3W) and four-wheeler (4W) cargo segments, have allowed Alt Mobility to tap into a wide range of resources, including advanced electric vehicle (EV) technologies and extensive service networks. By working with original equipment manufacturers (OEMs), Alt Mobility is able to offer custom service level agreements (SLAs), and warranties that ensure priority support for its fleet and drivers. This collaboration allows Alt to provide critical aftersales services through the OEM dealer network, maintaining optimal vehicle health and maximizing uptime, which is essential for the day-to-day operations of its EV fleet.
We also integrate with OEMs to collect data from vehicles, useful in preventive maintenance, diagnostics and monitoring of our fleet real-time.
By enabling access to cutting-edge EV technologies along with offering a comprehensive support system, Alt Mobility is not only enhancing the customer experience but also contributing to the overall growth of the electric mobility ecosystem. OEM collaborations have undoubtedly strengthened the company's impact, enabling it to scale operations, provide seamless support, and ultimately help drive the adoption of sustainable transportation solutions across the country.
Q. What are the next big milestones for Alt Mobility? Any new initiatives, technology advancements, or partnerships in the pipeline?
A. Our immediate focus is on expanding our presence to other major cities across India, aiming to make EVs more accessible and scalable for businesses and drivers nationwide.
The company will invest in growing its driver-cum-owner segment across multiple cities. Alt is forging partnerships with demand aggregation platforms and fleet operators to ensure quantum of business for its existing DCOs and also to supply more and more vehicles to these platforms, thereby expanding both its reach as well as impact.
Further, having achieved tremendous results in the L5 segment, we plan to diversify to higher asset classes, including 4W cargo vehicles and electric buses, which will significantly broaden our product portfolio and contribute towards sustainable mobility at a much larger scale.
These initiatives, along with the ongoing expansion of its vehicle portfolio, are designed to position Alt Mobility as a leader in the rapidly growing electric mobility market. As Alt Mobility continues to push the boundaries of what's possible in electric transportation, it remains dedicated to creating a cleaner, smarter, and more sustainable future for India’s mobility ecosystem. The company’s vision is clear—accelerating the transition to electric vehicles and becoming a key enabler of the country’s sustainable transportation revolution.
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