{
  "id": 12337073,
  "title": "Trev plans 2.5K-vehicle premium EV fleet by 2031",
  "url": "https://urgent.news/2026/10/06/trev-plans-2-5k-vehicle-premium-ev-fleet-by-2031",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-06T07:41:57.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/industry/renewables/trev-plans-2500-vehicle-premium-ev-fleet-by-2031-raising-2-million/articleshow/134727252.cms"
  },
  "original_language": "en",
  "account": "Mumbai-based electric mobility startup Trev Mobility aims to expand its fleet from 105 vehicles to 300 by the end of the current financial year and reach a remarkable 2,500 vehicles by 2031, according to founder Naveen Gupta. The company plans to raise $2 million to support this ambitious growth.\n\nTrev has already secured ₹3.5 crore from its customers, including corporate clients and frequent users. Its fleet has grown from around 20 vehicles to the current 105. The company is projected to achieve a positive total addressable market (PAT) status with an annual recurring revenue (ARR) of about ₹15 crore, Gupta revealed.\n\nThe electric-only cab market has evolved with various players entering the scene, including hybrid aggregators, regional electric-only operators, and business fleet providers. Notable competitors include Green SM, run by Vietnam-based VinGroup, which operates VinFast cars in Delhi-NCR; Snap-E Cabs, backed by Inflection Point Ventures and active in Kolkata and NCR; and Shoffr, offering fixed-rate airport and intercity rides in Bengaluru and NCR using BYD vehicles.\n\nMost of these startups have a limited presence in a few cities and have yet to achieve significant scale. However, Trev's commitment to delivering high-quality service, trained drivers, and sustainable operations makes it a formidable rival to established players like Ola Cabs and Uber. Trev's fleet consists of premium electric cars and SUVs, and it maintains control over both the vehicles and the driver experience.\n\nGupta emphasized that Trev is a niche player focusing solely on premium cars and SUVs, along with exceptional drivers and amenities within the vehicle. The company operates its own chauffeur service, bypassing the aggregator model. Approximately 90% of its fleet is leased, primarily through financial leases, with Trev responsible for vehicle maintenance.\n\nThe startup currently operates premium electric vehicles, including MG and BYD models, and is exploring other options as the electric passenger vehicle market continues to grow. Maruti Suzuki's upcoming e Vitara is also under consideration. However, Mahindra vehicles are not available for commercial use at the moment, according to Gupta.\n\nIn terms of operational strategies, Trev plans to enter Bengaluru, Mumbai, and other major metro cities through its own operations rather than relying on franchises. The company is also exploring asset-light or quasi-asset-light models through partnerships, as fleet-led mobility is capital-intensive. Earlier this month, Trev appointed Ayush Agrawal, previously the Chief Operating Officer at Shoffr, as its co-founder and COO to help the company expand into new cities and grow its fleet.\n\nGupta affirmed that Trev will continue to concentrate on premium vehicles as it expands to Tier-2 cities, positioning the service as an alternative to conventional taxis rather than competing with mass-market ride-hailing platforms.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}