Alt Mobility, a technology-driven electric vehicle (EV) leasing and asset lifecycle management provider, has announced its expansion into the commercial four-wheeler passenger vehicle market. This strategic move aims to support various sectors, including employee transportation, ride-hailing services, airport cabs, hotels, and tourism, in their transition to electric vehicles, thereby aligning with corporate net-zero goals.
The push towards electrification is transforming the mobility landscape in India, particularly as companies increasingly mandate employees to return to the office. In response, organizations are turning to greener transportation options to minimize emissions and reduce their carbon footprints. Notably, EVs offer a lower total cost of ownership compared to traditional combustion engine vehicles, saving approximately 80% in monthly operating costs and 35% in total ownership costs over a decade, including battery replacement expenses. The global employee transportation market is projected to reach $13 billion by 2030.
A comparison of costs illustrates the potential savings with electric vehicles:
| Vehicle Type | Monthly Operating Cost | Total Cost of Ownership | Savings with EV |
|---|---|---|---|
| 4W-ICE (CNG) | ₹5.2/km | ₹7/km | |
| 4W-EV | ₹1.2/km | ₹4.6/km | 80% (Operating Cost) 35% (Total Cost of Ownership) |
Dev Arora, Co-founder and CEO of Alt Mobility, expressed optimism about the company’s new venture: “The journey to fleet electrification is complex, especially in the four-wheeler passenger segment, where hubs, charging infrastructure, and reliable vehicles are crucial for maintaining high uptime and availability for taxis and employee fleets. Our integrated approach in providing managed fleet-as-a-service is designed to deliver tailored services to businesses integrating EVs, hubs, charging, servicing, battery refurbishments, and upgrades, along with uptime management to simplify the overall EV experience. We look forward to supporting businesses in adopting cleaner, smarter, and more affordable transportation.”
Through its leasing offerings, Alt Mobility enables businesses to reduce capital expenditures on electric vehicles, facilitating fleet expansion and operational growth while generating higher earnings with minimal capital investment. The integrated fleet-as-a-service model reduces infrastructure setup costs and ensures reliable fleet operations.
In a short period, Alt Mobility has successfully assisted several fleet operators, including Snape E-Cabs, Zero Leap, and Refex Green Mobility, in deploying EV four-wheeler fleets in cities like Kolkata, Pune, and Bangalore. The company is actively working with additional fleet operators to enhance EV deployment, aiming to reduce operating costs, improve operational efficiency, and make measurable contributions toward lowering carbon emissions. Alt Mobility plans to add 3,000 passenger four-wheelers to its fleet by March 2026.
