M-;M Financial's Quicklyz to lease 500 EVs to BluSmart; stock ends ~2% higher

22 Mar 2022 , 04:00 PM

Mahindra & Mahindra Financial Services Limited’s vehicle leasing and subscription business Quiklyz, today announced its tie-up with BluSmart Mobility.

BlueSmart is India’s first and the largest zero-emission ride-hailing service and platform.

As per the agreed terms, Quicklyz will provide customized Lease for up to 500 Electric Vehicles (EVs) which will be deployed on BluSmart’s 100% EV fleet. The company will deploy these vehicles in the Delhi NCR region and shall be used for BluSmart all Electric ride-hailing services currently in NCR through BlueSmart’s app. It also plans to expand its foot into other major cities across India.

Mohammad Turra, Senior VP & Head, Quiklyz commented, “We are dedicated to providing innovative leasing solutions to popularize Electric Vehicles in India and are glad to be the leasing partner of choice for BluSmart. We will continue to develop necessary leasing products across EV segments to fuel the change towards a more sustainable future”.

Quiklyz is the new-age vehicle leasing and subscription platform with a broad product spectrum across multiple customer segments for passenger and commercial vehicles from all leading OEMs in India.

M&M Finance ended at Rs160.30 up by Rs2.95 or 1.87% from its previous closing of Rs157.35 on the BSE. Its scrip touched today’s high and low of Rs160.85 and Rs155.45 respectively