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M&M Financial's vehicle subscription business signs MoU to deliver 1,000 EVs

M&M Financial's vehicle subscription business signs MoU to deliver 1,000 EVs

M&M Financial's vehicle subscription business signs MoU to deliver 1,000 EVs
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By CNBCTV18.com Nov 23, 2022 4:40:25 PM IST (Published)

Quiklyz has signed MoUs with five last-mile mobility companies for the same.

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In a move to push the popularity of fast-advancing electric vehicles, Quiklyz, the vehicle leasing and subscription business of Mahindra & Mahindra Financial Services, has signed agreements with multiple prominent last-mile mobility players to lease over 1,000 electric three-wheelers.
Quiklyz has signed MoUs with five last-mile mobility companies for the same, opening new opportunities in the nascent EV leasing segment.
M&M Financial Services said in a release that Quiklyz will complete the deliveries of the leased electric vehicles over the upcoming six months across the country, adding that the three-wheelers shall be used primarily for the purposes of delivery and logistics.
The five companies with whom Quiklyz has signed MoUs include Mahindra Logistics, MoEVing Urban Technologies, Creativity at Best Technologies, Magenta EV Solutions and Terrago Logistics.
The agreements were signed on the sidelines of Mahindra Electric’s new three-wheeler Zor Grand’s launch, recently in Bengaluru.
The vehicle leasing company has already provided solutions in the space to over 1,000 EVs in the past year, including passenger vehicles while having partnered with over 15 electric last-mile mobility delivery companies since its inception.
Shares of M&M Financial Services ended 1.3 percent higher at Rs 206.80.
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