Dry Lease vs Fully Managed EV Rental: Which Is Right for Your Delivery Fleet?
When fleet operators in Delhi NCR start pricing electric scooters, they usually see two very different monthly numbers for what looks like the same vehicle. The difference is almost always what is bundled into the rent. One quote is a fully managed rental. The other is a dry lease.
What each model includes
| Dry lease | Fully managed | |
|---|---|---|
| Scooter | Included | Included |
| Battery | Rider subscribes to a swap network (e.g. Battery Smart, Mooving) | Usually bundled |
| Servicing | You or your service partner | Provider |
| Insurance | You arrange | Often bundled |
| Monthly rent | Lowest | Highest |
| Control over costs | High | Low |
Why the dry lease is cheaper
A managed rental has to price in the worst case. The provider does not know whether your riders will cover 60 km or 140 km a day, or how hard they will be on the vehicles, so the rate carries a margin for all of it. With a dry lease you pay for the scooter alone. Battery cost then scales with actual riding through the swap subscription, and servicing cost reflects how you actually run your fleet.
Who a dry lease suits
- Operators with an in-house mechanic or a trusted local garage. Most established fleets in Delhi, Noida and Gurugram already have one for their petrol bikes.
- Fleets whose riders already use, or are close to, swap stations.
- Rider fleet operators who rent scooters onwards and want the lowest possible base cost to build their own margin on.
- Businesses scaling fast, where every rupee of monthly rent multiplies across hundreds of riders.
Who a managed rental suits
- A business putting its very first handful of riders on EVs, with no maintenance setup at all.
- Fleets operating where swap coverage is thin.
How to compare the two honestly
Do not compare the rent figures directly. For the dry lease, add the scooter rent, the battery swap plan and your realistic servicing cost per scooter. Compare that total with the managed rent. For most fleets with even basic maintenance capability, the dry lease comes out lower, and the gap widens as the fleet grows. Run both against petrol in the EV vs petrol calculator.
Lilypad's model
Lilypad offers a dry lease only: low-speed, swappable electric scooters on monthly rental or lease-to-own, compatible with Battery Smart and Mooving, handed over from our Noida hub to fleets across Delhi NCR. Pricing is quoted for your volumes.