Top 5 EV Leasing Startups that are Powering EV Adoption

Innovative financing and leasing solutions are needed to address the unique challenges of EV adoption, as traditional financing models often prove to being adequate due to high upfront costs, battery ownership concerns and limited access to credit. A new wave of startups is emerging to overcome these barriers by providing specialized EV leasing and green financing options that prioritize affordability and accessibility, enabling more individuals and businesses to transition to electric vehicles.

These startups are eliminating the need for substantial upfront investments and converting costs such as battery ownership into manageable monthly payments through flexible leasing models. They also partner with original equipment manufacturers (OEMs) and fleet operators to deliver comprehensive solutions that encompass vehicle acquisition, maintenance, and real-time fleet monitoring. By leveraging advanced technologies like IoT-based fleet management systems and data-driven credit assessments, they are improving operational efficiency and reducing costs.

Through their innovative approach, these companies are accelerating EV adoption, contributing to the growth of sustainable mobility, and making EV ownership a reality for a wider audience, thus propelling India toward a greener and more inclusive future.

Revfin:

One of the top online consumer loan platforms, Revfin, works to increase financial inclusion in India. Through its cutting-edge technologies and unconventional data analysis, Revfin provides people with easy-to-access lending solutions. By collaborating with Zappit to offer airport pickup services, Revfin has recently extended its offerings to the 4W EV market. Additionally, it has expanded its financing options and established a micro secondary market for EVs by working with other EV manufacturers and leasing firms.

Urja Mobility

UrjaMobility is a brand owned by MTOW Mobility Private Limited based at New Delhi.This Energy focused Company focus to work towards making owning an EV easily and believe “Battery is the new fuel” and this belief it presents battery leasing for commercial category for Electric Two Wheelers (L2), Electric Three Wheelers (L3, L5) and convert this upfront cost towards the battery (energy) to an easy MLV (Monthly Lease Value).

ALT Mobility

ALT Mobility is an EV leasing platform specialising in fleet management across seven cities. The Delhi-based startup offers easy financing for EV-as-a-service and last-mile delivery, with zero upfront costs. By paying a small security deposit and monthly lease, you can save up to 20 percent on monthly expenses. Partnered with 8+ OEMs like Piaggio and Euler Motors, ALT Mobility also provides a Fleet OS app for real-time vehicle and fleet monitoring.

Ecofy

Ecofy, India’s green-only NBFC, supports sustainable initiatives by offering affordable, hassle-free EV loans with minimal documentation and competitive interest rates. Financing up to 90 percent of the vehicle’s on-road price at 1/6th the cost per km compared to diesel, Ecofy is becoming a key player in EV financing. Partnered with brands like Ather, Mahindra, and Ola Electric, Ecofy provides financial assistance for electric two- and three-wheelers in both individual and corporate segments.

Greaves Finance

Greaves Finance Ltd., through its 100% ev-focused lending platform evfin, is India’s only ev-focused non-banking financial company (NBFC) and a wholly owned subsidiary of Greaves Cotton Ltd. With a mission to democratise the EV experience, Greaves Finance Limited, under its platform evfin, provides innovative financing solutions exclusively tailored to electric vehicle ownership, supporting the growth of sustainable mobility in India.