Mahindra Finance's Quiklyz signs MoUs to deliver 1000 EVs

Quiklyz, the vehicle leasing and subscription business of Mahindra & Mahindra Financial Services Limited (Mahindra Finance/ MMFSL), has signed MOUs with prominent Last Mile Mobility players for leasing over 1000 electric 3-wheelers (3W).

Quiklyz plans to deliver these leased vehicles over the next six months, spread across India deliveries, opening up newer opportunities in EV leasing.

The MOUs have been signed up with Mahindra Logistics Limited, MoEVing Urban Technologies Pvt Ltd., Creativity at Best Technologies Pvt. Ltd., Magenta EV Solutions Pvt Ltd. and, Terrago Logistics Pvt Ltd.

The signing was done on the sidelines of the launch of Mahindra Electric’s Zor Grand in Bengaluru recently.

The three-wheeler electric vehicles will be used primarily for delivery and logistics purposes.

Raul Rebello, COO, Mahindra Finance said, “India’s transition to EV has accelerated in the last few years which has given a major boost to the Indian EV financing ecosystem. With these recent partnerships our aim is to be early adopters of this disruptive technology, our way of contribution in India achieving its goal of becoming carbon-neutral by 2070”.

At around 2:55 PM, Mahindra & Mahindra Financial Services Ltd is currently trading at Rs206.90 per share up by Rs2.7 or 1.32% from its previous closing of Rs204.20 per share on the BSE.