Quiklyz, the new-age vehicle leasing and subscription business of Mahindra & Mahindra Financial Services Limited, has today announced its expansion plans in the electric mobility leasing space. The company will now offer customised leasing and subscription solutions for electric EVs, primarily electric 3W and 4W to its partners.
Quiklyz claims to have financed over 1,000 electric vehicles over the last 12 months including passenger vehicles and three-wheelers. With this new plan, the company is aiming to broaden its EV portfolio in India to boost its offerings in the logistics and the last mile mobility space.
Quiklyz has partnered with 15+ electric last-mile mobility delivery companies, including MoEVing Urban Technologies, Terrago Logistics, etc. The company has also tied up with several electric mobility providers which include Lithium Urban, BluSmart Mobility and Ambassador Tours & Travels.
Raul Rebello, COO, Mahindra Finance said, “The growing demand and increasing focus on green mobility has opened a new vista for EVs in India. Consumers, businesses, and corporates now prefer cleaner modes of transport. With these partnerships, we will venture into emerging EV financing in India, to tap the increasing opportunities in the e-mobility space, aligning with India’s commitment to become carbon-neutral by 2070”.
Quiklyz says that it has leased EVs across tier 1 cities like Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Mumbai, & Noida, and tier 2 cities like Pune, Indore & Nagpur. It claims to have one of the largest portfolios of EVs and has provided electric 4W across OEMs including Mahindra & Mahindra, Tata Motors, Hyundai, and Mercedes-Benz as well as electric 3W load vehicles from Mahindra Electric, Piaggio and Omega Seiki for e-commerce fleet operators.
Mohammad Turra, Senior VP & Head, Quiklyz mentioned, “EV financing ecosystem is currently at a very nascent stage in India. It demands a specific financing approach, a developed understanding of the EV domain, an understanding of the customer’s unique business model and curation of customized solutions. So far, we have funded over 1000 EVs and our deep understanding of the ecosystem will enable us to further strengthen our future commitment to the Indian e-mobility space”.