Beyond Buying: 5 Startups Redefining EV Ownership Through Leasing in India
India’s shift towards electric mobility is bringing a fundamental change in how people think about vehicle ownership. Rather than investing heavily up front, more consumers and businesses are turning to leasing and financing models that make electric vehicles affordable, flexible, and hassle-free. This approach eliminates concerns around high purchase costs, battery life, and rapid technological changes—replacing them with predictable monthly payments and the freedom to upgrade when needed.
Leasing not only helps individuals transition smoothly into EV adoption but also enables businesses, especially in logistics and last-mile delivery, to optimize operations while cutting costs. By removing the burden of ownership and offering access to advanced fleet management tools, these models create significant savings while boosting efficiency. At the same time, financing solutions tailored exclusively to electric mobility are ensuring that sustainability is not limited to a privileged few but is accessible to a wider segment of society.
From battery leasing and subscription plans to EV-only financial products, these new approaches are democratizing access to clean mobility. Together, they are reshaping India’s transportation landscape—proving that the future of mobility isn’t about owning an EV, but about experiencing one in smarter, more sustainable ways.
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.