As electric mobility gains momentum in India, EV leasing is emerging as a practical and transformative solution, especially in fast-paced urban environments. Unlike traditional ownership, which involves high upfront costs and rigid financing terms, leasing provides a more flexible and affordable alternative. It allows individuals, fleet operators, and last-mile delivery services to adopt electric vehicles without the burden of large capital investments, making sustainable transport more accessible across income segments.
This shift is being driven by a new generation of platforms that combine technology, innovative financing, and partnerships with vehicle manufacturers to simplify EV adoption. These solutions often include minimal security deposits, monthly lease payments, and value-added services such as real-time fleet tracking and maintenance support. Some are even addressing one of the biggest cost components batteries by offering battery leasing models that further reduce the financial barrier to entry.
Others focus on tailored financing for electric two- and three-wheelers, or provide loans specifically for EVs at competitive rates and with minimal documentation. These approaches not only lower the cost of ownership but also accelerate the transition to cleaner, greener cities. As urban India looks to scale its electric mobility efforts, EV leasing is proving to be a critical enabler of widespread adoption.
ALT Mobility
ALT Mobility is revolutionizing EV leasing with its fleet management solutions across seven cities. Based in Delhi, the startup simplifies financing for EV-as-a-service and last-mile delivery, eliminating upfront costs. With just a small security deposit and a monthly lease, businesses can reduce expenses by up to 20%. Partnered with over eight OEMs, including Piaggio and Euler Motors, ALT Mobility also offers a cutting-edge Fleet OS app for real-time vehicle and fleet monitoring, ensuring seamless operations.
Revfin
Revfin is a leading online consumer loan platform dedicated to enhancing financial inclusion in India. By leveraging advanced technology and unconventional data analysis, Revfin provides seamless lending solutions, making EV financing more accessible. Recently, the company expanded into the 4W EV market through a partnership with Zappit to offer airport pickup services. Additionally, Revfin has broadened its financing options and established a micro secondary market for EVs by collaborating with various EV manufacturers and leasing firms.
Urja Mobility
Urja Mobility, a brand under MTOW Mobility Private Limited, is a Delhi-based energy-focused company committed to simplifying EV ownership. With the belief that “Battery is the new fuel,” Urja Mobility offers battery leasing solutions for commercial electric two-wheelers (L2) and three-wheelers (L3, L5). By converting the high upfront battery cost into an affordable Monthly Lease Value (MLV), the company makes EV adoption more cost-effective and accessible for businesses.
Ecofy
Ecofy, India’s first green-only NBFC, is driving sustainable mobility by offering affordable and hassle-free EV loans. With minimal documentation and competitive interest rates, Ecofy finances up to 90% of a vehicle’s on-road price, making EV ownership more accessible. Offering loans at just 1/6th the cost per kilometer compared to diesel, the company has become a key player in EV financing. Partnered with leading brands like Ather, Mahindra, and Ola Electric, Ecofy supports both individual and corporate buyers in the electric two- and three-wheeler segments.
Greaves Finance
Greaves Finance Ltd., through its exclusive EV-focused lending platform evfin, is India’s only dedicated EV-focused non-banking financial company (NBFC). A wholly owned subsidiary of Greaves Cotton Ltd., the company is on a mission to democratize EV ownership with innovative financing solutions tailored specifically for electric vehicles. By providing flexible loan options, Greaves Finance is helping accelerate the adoption of sustainable mobility across India.
