Mahindra Finance's Quiklyz to offer EVs for leasing, subscription 

Quiklyz, the vehicle leasing vertical of Mahindra & Mahindra Financial Services Limited, will offer a range of electric vehicles (EVs) for leasing and subscription to potential customers, it said in a statement.
 

The portfolio offers EVs (4W and 3W) from leading original equipment manufacturers (OEM) including Mahindra, Tata Motors, Mercedes-Benz, MG, Audi, Jaguar and Piaggio. 

“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," said Turra Mohammed, SVP, Business Head, Quiklyz.
 

Quiklyz will offer EV 4W at monthly subscription charges starting from Rs 21,399 without any down payment and will offer EV 3W at Rs 13,549. The monthly fee covers insurance, maintenance and roadside assistance. Customers can upgrade their vehicle in two -three years with newer EV launches. Quiklyz also provides a subscription of Electric 3Ws used for last-mile delivery by e-commerce companies.

EVs on-road are priced higher than petrol and diesel vehicles, but their running cost is much lower. In addition, there is a high down payment cost to purchase EV vehicles, the company statement says.

“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," said Suman Mishra, CEO of Mahindra Electric.