the vehicle leasing and subscription business vertical of Mahindra &
Mahindra Financial Services Limited (Mahindra Finance/ MMFSL), announced that
it will offer the widest range of electric vehicles (EVs) for leasing and
subscription to potential customers.
Quiklyz is a new-age digital born vehicle
leasing and subscription platform that offers great convenience, flexibility,
and choice to customers across Indian cities.
currently has the largest portfolio of EVs on the subscription platform. The
portfolio spans across electric 4W from the leading OEMs offering electric
vehicles including Mahindra, Tata Motors, Mercedes-Benz, MG Motors, Audi, and
Jaguar as well as electric 3W load vehicles from Mahindra and Piaggio for
e-commerce fleet operators.
will have the flexibility to upgrade their vehicle in 2-3 years keeping in tune
with ever increasing technology features in newer EV launches going forward.
EVs on-road price is currently higher than petrol and diesel vehicles, although
the running cost is much lower. The customers intending to purchase EV vehicles
through bank loans therefore must pay very high down payment. However, with
Quiklyz there is no requirement for down payment, and monthly subscription
charges for EV 4W starts from as low as Rs 21,399 / per month.
Mohammed, SVP & Business Head – Quiklyz mentioned, “As the world is moving
on from conventional fuels to alternative sources of energy for powering
transport, electric vehicles are emerging as a popular choice among the planet
conscious customers. Quiklyz will continue to focus on EVs and will create an
exciting platform for customers to have access to EVs in an affordable and
hassle-free manner. All of this will be in keeping with India’s commitment to
become carbon-neutral by 2070”.
is also the leading provider for subscription of Electric 3Ws used in last mile
delivery by e-commerce companies. Suman Mishra - CEO Mahindra Electric added,
“Leasing & Subscription is becoming an important channel for our Electric
3W specifically in load segment to new age enterprises. We look forward to
continuing working with Quiklyz to provide such innovative financing solutions
for our customers”.
company plans to add more EVs in its portfolio, as it aims to create exciting
EV subscription products for its customers. Quiklyz’s vehicle subscription
model ensures that there’s no risk or uncertainty about maintenance, battery
life, resale value, etc. when it comes to adopting a new technology.