Turno is India’s leading EV lifecycle finance company—pioneering a business model purpose-built for the electric future. While traditional ICE vehicle financing relies on predictable depreciation and established resale channels, EVs disrupt this model due to high battery costs, unknown residual values, and lack of end-of-life infrastructure. Turno is the first company globally to solve this challenge through lifecycle financing—a model that guarantees economic outcomes across the Commercial EV ownership journey, from day-zero to retirement.
Turno’s model integrates three high-synergy verticals:
- EV Financing & Distribution: India’s largest e-SCV platform offering multi-brand access, lowest TCO, buyback guarantees, and seamless financing. This gives first-time EV owners the confidence to switch from diesel or CNG. Turno is already the market leader in this segment with over 15% market share.
- Bus Leasing: A plug-and-play leasing solution for private bus operators, bundling capital, charging, maintenance, and resale into one contract—built for asset-heavy long-haul use cases. Turno is well positioned to dominate this market with ~60% of OEM capacities for next 15-24 months aligned to Turno.
- Battery Repurposing: Turno’s proprietary testing, battery management systems, and pack assembly enable the company to convert used EV batteries into high-margin stationary energy storage solutions—unlocking 4–5x more value than recycling. This acts both as a margin booster for financing business while unlocking a huge multi-billion dollar TAM for energy storage batteries.
This tightly integrated model gives Turno a unique advantage: it controls both the entry economics (via purchase financing) and the exit economics (via battery repurposing). By doing so, Turno achieves unmatched visibility on asset value, enabling better loan terms, superior underwriting, and significantly lower credit risk.
Turno currently operates in 14 states including Maharashtra, Karnataka, Tamil Nadu, Gujarat, Delhi NCR, Andhra Pradesh, Telangana, and Uttar Pradesh. With 294+ distribution points and 7 retail outlets (with 20 more under rollout), Turno already holds a 15% share in commercial EV financing in 3W segment. Its 2025 expansion roadmap targets presence in 20 states and 80%+ of India’s EV demand clusters by FY27.
With ₹350 crore in current AUM, Turno is targeting ₹3,000 crore by March 2027 and ₹20,000 crore by FY2030, powered by rapid scale-up in e-3W financing, bus leasing, and battery asset monetization. This positions Turno not just as a lender, but as the orchestrator of India’s commercial EV revolution—unlocking OEM growth, derisking MSME EV adoption, and enabling capital-efficient electrification.
In the ICE era, OEMs controlled the full customer journey—from sale to service to resale—thanks to standardized lifecycles and mature ecosystems. In the EV era, that control is breaking down: batteries introduce uncertainty, resale markets are immature, and services are fragmented. Turno is stepping in to rebuild this ecosystem—anchored in deep battery intelligence, vertically integrated operations, and a finance-first platform that makes EV adoption scalable, reliable, and profitable.
Backed by Stellaris, Avaana, B Capital, Quona, and British International Investment, Turno is not just enabling EV adoption—it is architecting the financial and operational rails for India's $20B+ commercial EV transformation.
Turno LEADERS :
Hemanth Aluru, Co-Founder & Chief Executive Officer
Hemanth Aluru is a seasoned professional with extensive experience in various leadership roles across multiple industries. Currently serving as Co-Founder at Turno since January 2022, Hemanth previously held the position of Chief Business Officer at Zoomcar from January 2019 to May 2021. Earlier, Hemanth served as Chief Executive Officer at Chemvera Specialty Chemicals Pvt. Ltd, a company he founded and exited through sale, from December 2014 to November 2017. Prior experience includes roles at Goldman Sachs, where responsibilities included Private Equity Analyst and Investment Banking Analyst from December 2009 to September 2013. Hemanth holds a Master's degree in Engineering Management from Dartmouth College and a BTech in Aerospace from the Indian Institute of Technology, Madras.
Sudhindra Reddy, Co-Founder & Chief Operating Officer
Sudhindra Redd y is a seasoned professional with extensive experience in operations, logistics, and entrepreneurship. Currently serving as Co-Founder at Turno since June 2021, Sudhindra focuses on innovation in the electric vehicle sector. Prior to this, Sudhindra was Chief Operating Officer at Zoomcar from October 2017 to June 2021, where a significant role was played in advancing India’s car subscription model. Sudhindra's career at Procter & Gamble spanned from May 2008 to June 2018, with various positions including Initiatives and Cost Delivery Manager, Regional Logistics Manager, and Operations Department Manager, where impactful logistics and operational strategies were developed. Initial experience includes a role as Scientist at the Defence Research and Development Organisation (DRDO), where project management was executed on a large-scale initiative. Sudhindra is an MBA graduate from IIT Bombay and holds a Bachelor of Engineering in Civil Engineering from Maulana Azad National Institute of Technology.
Job Title: Business Function Lead (P&L Ownership)
Location: Bangalore
Experience: 8-15 Years
Industry: FMCG / Automotive OEM / Manufacturing / Consumer Goods
About the Role:
- We are seeking a dynamic and results-driven professional to lead a key business function with end-to-end ownership, including full Profit & Loss (P&L) responsibility.
- This is a high-impact role that requires strategic thinking, operational excellence, and the ability to drive growth while optimizing costs and improving profitability.
- The ideal candidate will have a strong track record in fast-paced, product-centric industries such as FMCG or automotive OEMs, with a sharp business acumen and hands-on experience managing cross-functional teams.
- Owning the end to end P&L.
- Market Penetration and expansion.
- New Product Launches.
- Forecasting and Business Planning
- And ultimately driving growth and profitability in your region.
Key Responsibilities:
- Business Leadership: Lead the function with a clear focus on achieving business objectives, driving revenue growth, and delivering on strategic KPIs.
- P&L Management: Own the P&L for the function, including budgeting, forecasting, cost optimization, and financial performance monitoring.
- Strategy Development: Develop and implement functional strategies aligned with overall business goals. Identify opportunities for market expansion, product innovation, and operational improvements.
- Cross-functional Collaboration: Work closely with marketing, sales, supply chain, finance, and product teams to ensure seamless execution of business plans.
- Performance Monitoring: Track key metrics, analyze data, and generate insights to support data-driven decision-making and continuous improvement.
- Team Leadership: Build, manage, and mentor a high-performing team. Foster a culture of accountability, innovation, and continuous learning.
- Stakeholder Management: Collaborate with internal and external stakeholders, including senior leadership, partners, and customers.
Qualifications:
- Tier 1 institutions(MBA/UG)
- 6-12 years of relevant experience in FMCG, automotive OEM, or related industries.
- Demonstrated experience in managing business units or functions with financial accountability.
- Strong analytical, strategic thinking, and problem-solving skills.
- Exceptional communication and interpersonal abilities.
- Proven ability to lead teams and influence stakeholders across functions.
Why Join Us?
- Be part of a forward-thinking, growth-driven organization.
- Lead a critical business function with autonomy and accountability.
- Work in a collaborative, high-performance environment with leadership visibility.
- Opportunity to make a tangible impact on business outcomes.
