Quiklyz To Expand Presence in EV Leasing Space; Plans Customised Solutions For Electric 3- And 4-Wheelers

Mahindra Financial Services' car leasing and subscription business, Quiklyz, has announced its plan to expand presence in electric mobility leasing space, by venturing into logistics and the last mile mobility segment. The company will now offer customised leasing and subscription solutions for electric three- and four-wheelers, effectively broadening its EV portfolio in India. In fact, Quiklyz says that in the last 12 months, the company has financed over 1,000 electric vehicles over the last 12 months including passenger vehicles and three-wheelers.

Mohammad Turra, Senior VP & Head, Quiklyz says, "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 customised 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".

Also Read: Quiklyz Partners With BluSmart To Provide 500 Electric Vehicles On Lease

Quiklyz has entered into a partnership with more than 15 electric last mile mobility delivery companies which include MoEVing Urban Technologies, Terrago Logistics, among others.

To further its goals, Quiklyz has entered into a partnership with more than 15 electric last mile mobility delivery companies which include MoEVing Urban Technologies, Terrago Logistics, among others. The company has also joined hands with several electric mobility players like - 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 has been leasing electric vehicles mainly in Tier 1 cities like Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Mumbai, and Noida, and a few Tier 2 cities like Pune, Indore and Nagpur. The company currently has one of the largest portfolios of electric vehicles on its platform, from different OEMs including Mahindra & Mahindra, Tata Motors, Hyundai, Mercedes-Benz. Additionally, Quiklyz also offers electric 3-wheeled cargo vehicles from Mahindra Electric, Piaggio, Omega Seiki etc. for e-commerce fleet operators.