As part of this arrangement, Quiklyz will provide customized Lease for up to 500 Electric Vehicles (EVs) which will be deployed on BluSmart's 100% EV fleet.

These vehicles would be deployed in the Delhi NCR region and would be used for the BluSmart all Electric ride hailing services plying currently in NCR through the BluSmart app. Quiklyz is a leasing and subscription platform having broad product offerings across various customer segments for passenger and commercial vehicles in India.

BluSmart currently operates in Delhi NCR region and the company plans to expand its network into other major cities across India. It also operates large EV charging Superhubs powering its own EV fleet as well as offering services to others.

Currently, Quiklyz has a portfolio of electric vehicles (EVs) on its leasing and subscription platform. It provides both Electric 4W as well Electric 3Ws across OEMs including Mahindra, Tata Motors, Piaggio, Mercedes-Benz etc. Quiklyz's value proposition for its customers includes zero down payment schemes, flexible tenure options, no resale or maintenance hassle, and much more.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is a non-banking finance company. The company is a vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits and is focused on the rural and semi-urban sector.

The NBFC said it reported a standalone net profit of Rs 894 crore in Q3 FY22 as against a net loss of Rs 274 crore in Q3 FY21. Total Income was at Rs 2,543 crore for the quarter, a decline of 1% YoY.