Alt Mobility expands EV leasing to 4W passenger transport • EVreporter

Alt Mobility, a provider of electric vehicle (EV) leasing and asset lifecycle management, has announced its entry into the commercial 4-wheeler passenger vehicle market. The expansion of its lease services focuses on supporting employee transportation, ride-hailing services, airport cabs, hotels, and tourism segments in their transition to electric vehicles, in line with corporate net-zero goals.

The global employee transportation market is projected to reach $13 billion by 2030. A company statement said that in addition to environmental benefits, EVs offer significant cost savings compared to internal combustion engine (CNG) vehicles, with an estimated 80% reduction in monthly operating costs (including fuel/charging and service) and 35% in total cost of ownership (TCO), which covers financing, insurance, energy, servicing, battery replacement, and salvage value over a 10-year period.

For example, the monthly operating cost for CNG vehicles is ₹5.2/km, while for EVs, it is ₹1.2/km, with the TCO at ₹7/km for CNG and ₹4.6/km for EVs. These figures are based on the Tata Tigor Express 2.0, assuming 220 km/day over 26 days a month.

Dev Arora, Co-founder and CEO of Alt Mobility, stated, “The journey to fleet electrification is complex across the value chain, in the 4-wheeler passenger segment especially where hubs, charging infrastructure and reliable vehicles are required to maintain high uptime and availability for taxis and employee fleets. Our integrated approach in providing managed fleet-as-a-service is designed to provide a tailored service to businesses integrating EVs, hubs, charging, servicing, battery refurbishments, and upgrades, along with uptime management and empowering ESG compliances to simplify the overall EV experience. We look forward to supporting businesses to embrace cleaner, smarter, and more affordable transportation.”

Alt Mobility’s leasing services help businesses reduce capital expenditures on electric vehicles, allowing them to acquire more vehicles and expand operations. The company’s integrated fleet-as-a-service model also reduces infrastructure setup costs while ensuring fleet reliability.

Alt Mobility has already supported several fleet operators, including Snap E-Cabs, Zero Leap, and Refex Green Mobility, in deploying EV 4-wheeler fleets in Kolkata, Pune, and Bangalore. The company aims to add 3,000 passenger 4-wheelers to its fleet by March 2026.

Also read: Alt Mobility secures USD 6M in a round led by Shell Ventures, Eurazeo, EV2, and Twynam