· Has leased 1000 plus EVs over the last year since commencement
· Partnered with electric mobility employee transportation services including Lithium Urban, BluSmart Mobility
· Tied up with Last Mile Mobility delivery companies including Moeving Urban Technologies, Identifyplus Delivery Services, & Terrago Logistics
Bangalore, September 6, 2022: 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.
About Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 8.1 million customers and has an AUM of over USD 11 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has 1,384 offices and reaches out to customers spread over 3,80,000 villages and 7,000 towns across the country.
Mahindra Finance has been ranked 54th among India’s Best Companies to Work 2021 by Great Place to Work Institute.
Mahindra Insurance Brokers Limited (MIBL), the Company’s Insurance Broking subsidiary is a licensed Composite Broker providing Direct and Reinsurance broking services.
Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country.
Mahindra Finance CSR Foundation is a wholly owned subsidiary company, under the provisions of section 8 of the Companies Act, 2013 for undertaking the CSR activities of the Company and its subsidiaries.
Mahindra Manulife Investment Management Private Limited (formerly known as Mahindra Asset Management Company Private Limited) acts as the Investment Manager of Mahindra Manulife Mutual Fund (formerly known as Mahindra Mutual Fund).
Mahindra Manulife Trustee Private Limited (MMTPL), (formerly known as Mahindra Trustee Company Private Limited) acts as a Trustee to Mahindra Manulife Mutual Fund (formerly known as Mahindra Mutual Fund).
Mahindra Ideal Finance Limited (MIFL) is a subsidiary of the Company in Sri Lanka, in which the Company owns 58.2% stake. MIFL focuses on providing a diversified suite of financial services to the Sri Lankan market.
The Company has a Joint Venture in the US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra vehicles in the US.
Learn more about Mahindra Finance on www.mahindrafinance.com / Twitter and Facebook: @MahindraFi
