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India’s electric mobility journey in 2025 marked a decisive shift in how ownership itself was defined. The conversation moved beyond purchasing vehicles and installing chargers to a more fundamental question: how can electric mobility be made viable, affordable, and scalable for everyday commercial use? This year, a new generation of mobility and finance innovators reframed EVs not as high-cost assets, but as services, energy systems, and operating tools designed around usage rather than possession. By breaking down high upfront costs into predictable monthly commitments, separating batteries from vehicles, and embedding technology into fleet operations, these players unlocked EV adoption for delivery companies, drivers, and enterprises that had long been priced out of the transition.
What truly set these startups apart was their focus on real-world constraints—cash flow pressures, fleet uptime, access to credit, and resale uncertainty—rather than aspirational sustainability narratives alone. Their models blended leasing, flexible financing, battery-as-a-service, and data-led fleet management to reduce risk for users while improving utilisation and lifetime value. In doing so, they quietly built the financial and operational infrastructure needed to electrify fleets at scale, especially in last-mile and commercial segments. Together, these innovators helped redefine EV ownership in India as a flexible, service-driven experience—one where access, affordability, and efficiency mattered more than holding the keys.
The Game Changers of EV Leasing
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.
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).
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
