Naveen Gupta, founder of Trev Mobility
High-end electric vehicle startup Trev Mobility plans to raise $2 million in its next round of funding to expand its fleet, enter new markets and strengthen its technology and operations.
The company currently has 105 high-end electric cars and SUVs from MG and BYD, and aims to reach 300 by the end of this fiscal year. By 2031, the company aims to have 2,500 premium electric vehicles in major cities and some tier-2 cities. Trev is close to profitability with annualized revenue of around Rs 15 crore and had earlier raised Rs 35 crore from its own customers, including CXOs and frequent users.
Unlike ride-hailing aggregators, Trev operates its own driver service. Drivers receive a fixed salary, with incentives and insurance, and AI-powered cameras can monitor for signs of fatigue, aggressive driving, smoking and seat belt violations. About 90% of the fleet is leased, and Trev maintains it himself.
Next, the company plans to enter major cities such as Bengaluru and Mumbai and is exploring partnerships to help it scale faster.
“We don’t intend to compete on every ride,” said Naveen Gupta, founder of Trev Mobility. “The quality of the car, the driver, safety and the overall experience are very important to a unique customer segment.”