Yamaha Motors' MBSI Partners Alt Mobility to Provide B2B EV Leasing Services

Yamaha Motor’s Moto Business Service India (MBSI) has announced its partnership with Electric Vehicle leasing and management platform, Alt Mobility, to electrify commercial fleets with simplified leasing solutions.  This partnership is said to benefit e-commerce and logistics businesses in the country. Both the companies agreed to partner for 500 electric two wheelers in the initial stage. MBSI will finance these 500 vehicles and Alt Mobility, with the help of its FleetOS platform, will lease and manage them.

According to Alt Mobility, their integrated FleetOS platform helps B2B commercial logistics fleet operators get hassle-free, capex-light leasing. While for financing partners, it serves a blend of security along with transparency enabling them access features to reduce financial risk.

Dev Arora, Co-Founder & CEO of Alt Mobility said that the partnership aimed to unlock access to finance for the underserved electric mobility segment by eliminating capital barriers to EV transition. “Our platform’s strength in asset management, predictive fleet maintenance and utilisation, deep insights into driving patterns, early warning systems using advanced data analytics derived from operational fleets, combined with Yamaha Motors experience and strong standing aims to set a new benchmark for commercial vehicle financing.”  He added.

“We are on a mission to catalyse access to low-cost debt for financing the EV segment in India by using data-driven decision-making to improve lending efficiency. Our work together with MBSI will strive to create transparency and generate insights to improve the bankability of EV finance, generating confidence in the sector,” added Arora.

Both the companies have come up with this idea of partnership to make logistic and fleet management businesses shift to lease electric vehicles from Alt Mobility at an affordable rate. Alt mobility says that users can save up to 30 per cent of the operational costs, compared to Internal Combustion Engine (ICE) vehicles and up to 20 per cent compared to traditional options. Moreover, this partnership will also allow routine service, spare parts, and breakdown support and comprehensive insurance policies for all vehicles.

Yamaha Motors backed MBSI is a Bengaluru based company that provides vehicle leasing services to tech start-ups. MBSI says that its goal is to serve those who focus on the shared mobility space in India while creating employment opportunities. It also claims to have managed more than 3,500 assets last year. The company also has plans to invest INR 100 Cr in 2023 and manage one million vehicles by 2028.

Shoji Shiraishi, Managing Director of MBSI said that the MBSI was excited to join Alt Mobility to formally launch its asset finance operations in New Delhi. He also stated that manufacturers in India are rushing to switch from gasoline-powered cars to electric vehicles (EVs) due to the escalating cost of fuel. “With 1.4 billion Indians as a significant prospective market, there is the potential to unlock a massive market. We will continue to onboard electric vehicles across multiple cities and generate employment avenues for the youth of India. We plan to work with more mobility companies in the future and to transform the overall shared mobility space in India by bringing our financial and strategic experience from our stakeholders,” he added.

The leasing will fund EVs, which are two and three-wheeled vehicles that will be jointly leased to Alt's consumers. These cars will be offered to B2B logistics fleet owners and aggregators at a reasonable monthly lease value, ensuring consistent income and advancing the mission of job creation.