Alt Mobility has partnered with India-based e-logistics provider Zypp Electric to lease 15,000 e2Ws to facilitate last-mile deliveries.
This partnership will increase Zypps' fleet size by three times in the current financial year and, help facilitate a national rollout of e-bike deliveries, noted Raashi Agarwal, Co-founder & CBO of Zypp.
She said, 'Our partnership with Alt is a big step in our commitment and enables us to remain asset-light while blitz scaling our nationwide expansion.”
It is expected that Alt Mobility will expand its fleet size to 50,000 electric two and three-wheelers, mobilising $100 million in capital over the next 12 months. The company provides credit enhancement, redeployment, resale assurance, first loss protection, asset underwriting, and asset management to remove barriers for financing institutions to participate in India’s EV transition.
Dev Arora, Cofounder & CEO, Alt Mobility, said, “Alt’s exclusive EV leasing platform helps unlock scale for commercial fleet electrification by partnering with domestic banks and international financing institutions to mobilise low-cost debt. With this approach, we are able to take higher exposures and place bigger bets on our partners.”