Exponent Energy has partnered with Alt Mobility to lease 1,000 Altigreen neEV Tez electric 3-wheelers powered by the company. To enable rapid adoption of EVs, the company says it has effectively tackled significant obstacles of financer confidence arising from poor battery health data availability and earning potential stemming from low productivity of EVs due to long charging time.
This accomplishment instils confidence among financiers and results in a remarkable five-year financing (against the industry standard of three years), aiding in a 30% reduction in monthly EMIs.
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Dev Arora, CEO and Co-founder, Alt Mobility, said, “We are thrilled to partner with Arun, Sanjay, and the Exponent team to join our mission of EVs affordable, reliable, and seamless. Alt has been at the forefront of underwriting EV technology and partnering with exceptional technology providers to co-create comprehensive leasing offerings with longer tenures and the lowest monthly lease. Our data-driven asset underwriting, continuous fleet monitoring, and management are driven towards improving asset bankability and prolonging asset life with the ultimate objective of reducing the cost of financing and maximising asset resale value.”
Arun Vinayak, CEO and Co-founder, Exponent Energy, said, “We are excited to join forces with Alt Mobility to bridge the gap between technology and financing. Their exceptional full-stack leasing and lifecycle management platform is helping break down barriers hindering the rapid adoption of EVs. With competitive financing rates, and extended EMI tenures, we are making electric mobility accessible, financially viable, and convenient. Combining this with our breakthrough advancements in 15-minute EV charging, we are empowering individuals & businesses to unlock more revenue than ever before.”
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