Mahindra arm Quiklyz to expand EV leasing business

September 06, 2022 09:29 pm | Updated 09:29 pm IST - Mumbai

Quiklyz, the vehicle leasing and subscription business of Mahindra & Mahindra Financial Services Ltd., has announced its expansion into electric mobility leasing space. The company will now offer customised leasing and subscription solutions for electric 3W and 4W to its customers.

It has tied up with more than 15 electric last-mile mobility delivery companies and with several electric mobility providers.

“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,” said Raul Rebello, COO, Mahindra Finance.

“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,” he said.

Quiklyz said it had leased electric vehicles in several cities and provided electric 4W across OEMs including Mahindra & Mahindra, Tata Motors, Hyundai, 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 said, “So far, we have funded over 1,000 EVs and our deep understanding of the ecosystem will enable us to further strengthen our future commitment to the Indian e-mobility space.”

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