Trev plans 2,500-vehicle premium EV fleet by 2031, raising $2 million

Mumbai: Premium electric mobility startup Trev Mobility plans to scale its fleet from 105 vehicles to 300 by the end of the current financial year and 2,500 by 2031, founder Naveen Gupta told ET. The company is raising $2 million to fund the expansion.

Trev has raised ₹3.5 crore from its own customers, including CXOs and frequent users. Its fleet has grown from about 20 vehicles to 105 since. About $1 million of the new round is "almost confirmed", Gupta said. Trev is moving towards PAT positivity at an ARR of about 15 crore, he added.

To be sure, several electric-only cab operators have emerged since BluSmart, an early all-electric ride-hailing player, shut down. The market has split into hybrid aggregators, regional electric-only operators and business fleet providers. Green SM, backed by Vietnam's VinGroup, runs VinFast cars in Delhi-NCR, while Inflection Point Ventures-backed Snap-E Cabs operates in Kolkata and NCR. Shoffr fixed-rate airport and intercity rides in Bengaluru and NCR using BYD vehicles.


Most of the aforementioned start-ups have presence in one or two cities and have yet to reach a meaningful scale. However, with the promise of better-quality service and trained drivers and a sustainable drive, they are emerging as formidable rivals to early entrants—Ola Cabs and Uber.

Trev, which started with two vehicles, offers a premium, chauffeur-driven EV service instead of competing directly with mass-market ride-hailing platforms. Its fleet consists of premium electric cars and SUVs, and it controls both the vehicles and driver experience.

"We are very niche. We are only into premium cars, premium SUVs, good drivers and amenities inside the car," Gupta said.

Trev runs its own chauffeur service rather than an aggregator model. About 90% of its fleet is leased, largely through financial leases, and Trev is responsible for vehicle maintenance.

Trev operates premium EVs, including MG and BYD models, and is evaluating other vehicles as the electric passenger vehicle market expands. It is also considering Maruti Suzuki's upcoming e Vitara. Mahindra vehicles are currently not available for commercial use, Gupta said.

The company uses AI-enabled cameras to monitor driver behaviour, including signs of fatigue, aggressive driving, smoking and seatbelt violations. It employs drivers on fixed salaries with incentives and periodic increments, alongside insurance benefits, which Gupta said are meant to improve retention.

Gupta said Trev plans to enter Bengaluru, Mumbai and other metro cities through its own operations rather than franchises. It is also exploring an asset-light or quasi-asset-light model through partnerships, as fleet-led mobility is capital-intensive, he said. Earlier this month it appointed Ayush Agrawal who was the Chief Operating Officer at chauffeur-driven mobility company Shoffr, as its co-founder and COO as Trev seeks to enter newer cities and expands its fleet.

Trev will stay focused on premium vehicles as it expands into Tier-2 cities, Gupta said, and sees the service as an alternative to conventional taxis, not mass-market ride-hailing.