Exponent and Alt Mobility announce 5-Year EV financing with 30% lower EMI

The partnership aims to provide a 5-year financing option (as opposed to the industry standard of 3 years) resulting in a 30% reduction in monthly EMIs.

Autocar Pro News Desk By Autocar Pro News Desk calendar 31 May 2023 Views icon4002 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Exponent and Alt Mobility announce 5-Year EV financing with 30% lower EMI

Exponent Energy, an energy-tech startup has joined hands with Alt Mobility, a commercial fleet leasing and lifecycle management platform, to lease 1000 Altigreen neEV Tez electric 3-wheelers, powered by Exponent. Through this partnership, a 5-year financing option (as opposed to the industry standard of 3 years) will be provided, resulting in a 30% reduction in monthly EMIs. This initiative aims to enhance accessibility and affordability in the electric vehicle market.

Dev Arora, CEO and Co-founder, Alt Mobility said, “Our data driven asset underwriting, continuous fleet monitoring and management, is driven towards improving asset bankability, prolonging asset life with the ultimate objective to reduce the cost of financing and maximising asset resale value”.

The Alt Mobility platform provides a comprehensive solution for fleet lifecycle management, encompassing leasing, insurance, and service management. Its integrated approach aims to maximise fleet uptime and reduce operating costs, ultimately offering the lowest total cost of ownership for fleet partners. 

Commenting on the partnership, Arun Vinayak, CEO and Co-founder, Exponent Energy added, “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 and businesses to unlock more revenue than ever before.”

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