TVS Motor signs MoU with ALT Mobility for 3,000 EVs

TVS Motor Company has signed a Memorandum of Understanding (MoU) with ALT Mobility to lease and deploy up to 3,000 electric three-wheelers, both passenger and cargo, in the financial year 2025-26.

Under the agreement, TVS Motor will supply the vehicles, while ALT Mobility will manage procurement, leasing, and financing through its network. The companies will jointly decide the models, variants, and specifications to align with customer needs.

The vehicles will be made available through TVS Motor’s authorised dealerships and ALT Mobility’s sales outlets across India. Deployment will follow ALT’s drive-to-own leasing framework, designed for individual drivers as well as fleet operators.