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Quiklyz signs MOUs with five Last Mile Mobility players to deliver 1000 electric 3-wheelers

Posted On : 2022-11-24 10:46:32( TIMEZONE : IST )

Quiklyz signs MOUs with five Last Mile Mobility players to deliver 1000 electric 3-wheelers

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".

Shailesh Kumar - Director, CABT logistics mentioned, "We started our journey with Quiklyz four months ago and were delighted with our experience as a client. With this MOU we commit to strengthen this relationship further with the ease of flexibility leading to business growth for both the organisations and our environment at large".

Mohammad Turra, Senior VP & Head, Quiklyz added, "We continue to deliver on our commitment in providing innovative leasing solutions to popularize Electric Vehicles in India across segments and are delighted to partner with leading players in last mile space. With due consideration to the growing e-3W segment and the increasing focus on green mobility, it will be our continuing endeavor to work closely with stakeholders in the sustainable mobility space".

Quiklyz has already provided leasing solutions to over 1000 electric vehicles over the last 12 months including passenger vehicles and three-wheelers. It currently has the largest portfolio of EVs in Last Mile Mobility on its leasing and subscription platform; in collaboration with major EV manufacturers. Quiklyz has been a front-runner in promoting leasing solutions for logistics and last mile e-mobility across the Indian metro cities through continuous collaborations with prominent e-commerce companies.

Quiklyz has partnered with more than 15 electric last mile mobility delivery companies and several electric mobility providers since its inception. The platform has leased electric vehicles across cities including Mumbai, Bengaluru, Chennai, Delhi, Hyderabad, Pune, Noida, Gurugram, Indore and Nagpur.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 206.85 as compared to the previous close of Rs. 204.20. The total number of shares traded during the day was 111192 in over 1763 trades.

The stock hit an intraday high of Rs. 208.80 and intraday low of 204.00. The net turnover during the day was Rs. 23049724.00.

Source : Equity Bulls


MahindraandMahindraFinancialServices INE774D01024 Quiklyz Electric 3Wheelers LastMileMobility