Quiklyz to Expand in Electric Mobility Leasing Segment

Quiklyz, the new-age vehicle leasing and subscription business of Mahindra & Mahindra Financial Services Limited (Mahindra Finance/ MMFSL), today announced its expansion plans in the electric mobility leasing space. The company will now offer customized leasing and subscription solutions for electric 3W and 4W to its partners.

Quiklyz has financed over 1000 electric vehicles over the last 12 months including passenger vehicles and three-wheelers. With the new thrust, 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 more than 15 electric last mile mobility delivery companies which include MoEVing Urban Technologies, Terrago Logistics, among others. 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 has leased electric vehicles across tier 1 cities like Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Mumbai, and Noida, and tier 2 cities like Pune, Indore and Nagpur. It currently has one of the largest portfolio of electric vehicles and has provided Electric 4W across OEMs including Mahindra & Mahindra, Tata Motors, Hyundai, Mercedes-Benz as well as electric 3W load vehicles from Mahindra Electric, Piaggio, Omega Seiki etc. 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”.

Quiklyz caters to broad product offerings across various customer segments for passenger and commercial vehicles from leading OEMs in India. Leasing and subscription offer hoard of incentives to customers including insurance, maintenance and road-side assistance and flexibility to upgrade. Quiklyz also provides dedicated relationship and account managers that ensures customer management, timely interaction, and issue resolution.