Mooving Cofounder Launches AI Venture TrusTerra To Power India’s Used EV Market

Smart swapping network Mooving’s cofounder Tanvir Singh has launched an AI-based startup for used EV resale. 

The new venture, TrusTerra, launched alongside cofounders Saurabh Arora, Madhu Reddy and Chanakya Agarwal, aims to solve the sector’s most pressing challenges – lack of trust, standardisation and resale value in the pre-owned EV market. 

“For India to electrify affordably, a trusted resale backbone is critical. We are building that backbone to ensure every EV owner can unlock fair value, every dealer can trade with confidence, and every buyer can purchase with trust,” Singh said.

The Gurugram-based startup has been operating in stealth mode for about a year. It further plans to expand into cities such as Bengaluru, Pune and Hyderabad. 

Through TrusTerra, the platform boasts of a proprietary AI-driven valuation system called TruEV Score, which measures an EV’s battery health, range consistency, and remaining useful life (RUL).

The startup also mentioned that it will offer EV owners instant access to their vehicle’s health and receive bids with payment within 24 hours under its label TerraCash, and a certified dealer auction platform called TerraBid, that filters only quality EVs into the market while also offering financing, extended warranties, and assured buyback options.

As part of its growth roadmap, TrusTerra is targeting 1 Mn pre-loved EV deals in the next 3–5 years, while also targeting to touch an INR 500 Cr market cap in its initial two years.

India’s Used EV Market Finds Its Footing

The development comes at a time when India’s EV resale market continues to struggle with comparatively lower valuations than ICE vehicles, driven by concerns around battery life, evolving technology and inconsistent pricing metrics. 

However, the market is showing signs of promise and potential for growth, with improved battery warranties and the establishment of dedicated digital platforms and initiatives like Green Auctions, which are boosting buyer confidence and providing better tools for assessing vehicles.

Around a year ago, commercial EV financing player Vidyut tapped into the potential market of consumers interested in second-hand EVs by rolling out an offline platform for both sales and financing.

Meanwhile, sources recently confirmed with Inc42 that Bengaluru-based used two-wheeler marketplace BeepKart has shut operations. Notably, the startup’s business model struggled with thin margins and high operating costs.

Last December, finance minister Nirmala Sitharaman mentioned that old EVs bought by companies (or those modified by sellers) and then sold further are taxed at 18%.

Current Dynamics In India’s EV Market 

The country’s overall electric vehicle market is projected to grow from $54 Bn to over $132 Bn by 2030, based on Inc42’s India’s Electric Vehicle Startup Landscape Report, 2025.

On the other hand, there has been an evident decline in EV sales recently; total EV sales stood at 1,85,528 in July, compared to 1,89,966 in the previous month.

Considering two-wheelers alone, total E2W registrations declined nearly 9% on an MoM basis in July. On an annual basis, the registrations saw a decline of over 10% in the month under review.

In light of the evident sales fall, supply‑chain risks are also surfacing lately, pushing EV companies to a potential production halt due to China’s rare‑earth magnet export curbs.