Alt Mobility enters the 4-wheeler passenger vehicle market, offering electric vehicle leasing solutions for businesses in employee transportation, ride-hailing, and tourism sectors, promoting cost-efficient operations.
08 Oct 2024 | 678 Views | By Autocar Pro News Desk
Alt Mobility, a technology-enabled electric vehicle (EV) leasing and asset lifecycle management provider, has expanded its offerings into the commercial 4-wheeler passenger vehicle market. This expansion supports the growing demand for electric vehicles in employee transportation, ride-hailing services, airport cabs, hotels, and the tourism sector.
The shift toward electrification ...
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Alt Mobility, a technology-enabled electric vehicle (EV) leasing and asset lifecycle management provider, has expanded its offerings into the commercial 4-wheeler passenger vehicle market. This expansion supports the growing demand for electric vehicles in employee transportation, ride-hailing services, airport cabs, hotels, and the tourism sector.
The shift toward electrification in mobility is gaining traction in India, especially as more companies return to office-based work and seek environmentally friendly transportation options. EVs offer not only a reduced environmental impact but also a lower total cost of ownership compared to combustion engine vehicles.
On average, EVs save around 80% on monthly operating costs and 35% on total ownership costs over a 10-year period, including battery replacement. The global employee transportation market is projected to reach $13 billion by 2030.
A comparison of costs between 4W-ICE (CNG) and 4W-EV vehicles demonstrates significant savings. The monthly operating cost for a CNG vehicle is approximately ₹5.2 per kilometer, while for an EV, it is ₹1.2 per kilometer, resulting in an 80% savings. Additionally, the total cost of ownership for a CNG vehicle is around ₹7 per kilometer, compared to ₹4.6 per kilometer for an EV, reflecting a 35% savings. This comparison is based on a Tata Tigor Express 2.0 model, with assumptions including a daily distance of 220 kilometers, over 26 days per month, and costs associated with fuel, charging, services, and battery replacement over 10 years.
Dev Arora, Co-founder and CEO of Alt Mobility, highlighted the complexity of fleet electrification, particularly in the 4-wheeler passenger segment, which requires reliable vehicles, charging infrastructure, and operational hubs to maintain high uptime. Alt Mobility's integrated fleet-as-a-service approach provides businesses with a comprehensive solution, including EV integration, charging, servicing, battery refurbishment, upgrades, and uptime management. The service also supports businesses in meeting ESG compliance goals while simplifying the transition to electric vehicles.
By offering EV leasing services, Alt Mobility enables businesses to reduce their capital expenditures on vehicles, allowing them to acquire more vehicles and expand their operations with minimal investment. The integrated fleet-as-a-service offering helps reduce infrastructure setup costs and ensures reliable fleet operations.
In a short period, Alt Mobility has worked with several fleet operators, including Snape E-Cabs, Zero Leap, and Refex Green Mobility, to deploy EV 4-wheeler fleets in cities such as Kolkata, Pune, and Bangalore. The company is also collaborating with other fleet operators to scale up EV deployments, helping reduce operating costs and improve operational efficiency while contributing to the reduction of carbon emissions. Alt Mobility aims to add 3,000 passenger 4-wheelers to its fleet by March 2026.