Quiklyz, the vehicle leasing and subscription business of Mahindra & Mahindra Financial Services (Mahindra Finance/ MMFSL), has signed memorandums of understanding (MOU) with prominent Last Mile Mobility players for leasing over 1,000 electric three-wheelers. Quiklyz plans to deliver these leased vehicles over the next six months, with deliveries spread across India and opening up new opportunities in EV leasing.

The MOUs have been signed up with Mahindra Logistics, MoEVing Urban Technologies, Creativity At Best Technologies (CABT), Magenta EV Solutions and Terrago Logistics. The signing was done on the side-lines 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, Chief Operating Officer, Mahindra Finance said, “India’s transition to electric vehicles (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. This is our contribution towards India achieving its goal of becoming carbon-neutral by 2070.”

Shailesh Kumar, Director, CABT said, “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 Vice President and Head, Quiklyz said that the company is providing innovative leasing solutions to popularise electric vehicles in India across segments. “With due consideration to the growing electric three-wheeler segment and the increasing focus on green mobility, it will be our continuing endeavour to work closely with stakeholders in the sustainable mobility space,” he added.

Quiklyz claims to provide leasing solutions to over 1,000 electric vehicles over the last 12 months, including passenger vehicles and three-wheelers. It 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.