The Future of EV Ownership: How Leasing is Transforming India’s Mobility Landscape with these 5 startups

The transition to electric mobility has long appeared challenging for many businesses and individuals. The high upfront costs of electric vehicles (EVs) and the uncertainty around financing left many fleet operators and last-mile delivery businesses hesitant to make the switch. But today, a silent revolution is taking place—one driven by innovative startups that are making EV ownership more affordable and accessible than ever before.

Rather than buying EVs outright, businesses and individuals are now opting for leasing models that eliminate hefty down payments and offer flexible, cost-effective alternatives. From fleet management solutions to battery leasing, these models help reduce operational costs while driving India closer to a sustainable mobility future. With EV leasing, companies can save up to 20% on monthly expenses, all while enjoying the benefits of lower maintenance and zero fuel costs.

At the heart of this transformation are five pioneering startups that are reshaping how India moves. From providing seamless fleet management solutions to offering battery-as-a-service, these companies are making it easier for businesses and individuals to embrace the EV revolution.

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.