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Mahindra First Choice Wheels Launches India’s First Certified Pre-owned Electric Vehicle Program Retail Outlet

India first organized platform for pre-owned electric cars offers customers a range of Certified used electric vehicles Mahindra First Choice Wheels (MFCWL) and Mahindra Electric partner to develop ELEKTRICFIRST a unique warranty program for pre-owned electric vehicles MFCWL closes Fiscal 2017 with an all India network at 1200+ dealerships; Karnataka footprint at 50 dealerships Mahindra First Choice Wheels Ltd. (MFCWL) India No. 1 multi-brand certified used car company has inaugurated India First Certified Pre-owned Electric Vehicle outlet - Car Connect located at HSR Layout in Bengaluru. The Outlet yet another first in MFCWL suite of industry leading solutions for the pre-owned car industry was inaugurated by Dr. Nagendra Palle MD CEO MFCWL and Mr. Mahesh Babu CEO Mahindra Electric Mobility Ltd. Dr. Nagendra Palle MD CEO Mahindra First Choice Wheels (right) and Mr. Mahesh Babu CEO Mahindra Electric Mobility Ltd. at the launch of India first Certified Pre-owned Electric Vehicle program retail outlet Having grown its network at a rapid pace of nearly 50% a year over the last 5 years with more than 1200 multi-brand used car outlets across the country MFCWL will now also cater to customers looking for certified pre-owned eco-friendly electric vehicles. MFCWL will offer customers an organized platform to exchange buy and sell pre-owned electric cars with industry leading features like certification and warranty to ensure a transparent and convenient customer experience. The warranty program ELEKTRICFIRST is unique to MFCWL and it covers electric and electronic components of the car including battery battery pack parts and the drive train thus offering the customer comfort with a pre-owned electric vehicle purchase. Customers can choose between ELEKTRICFIRST and ELEKTRICFIRST+ warranty options. Mahindra First Choice Wheels launches India first Certified Pre-owned Electric Vehicle program retail outlet: Increased awareness higher acceptability and government initiatives steadily driving the growth of Electric Vehicles in India At Mahindra First Choice Wheels we are committed to providing our pre-owned vehicle customers a high degree of comfort around purchasing the vehicle with our industry leading multi-brand certification and warranty products. Increased awareness and higher acceptability of eco-friendly electric vehicles coupled with government initiatives are steadily driving the growth of Electric Vehicles. We are pleased to launch India first organized platform for pre-owned electric cars which will help us cater to this new discerning segment of customers while facilitating the growth of the EV market said Dr. Palle. Mahindra Electric is the pioneer in electric mobility space in India. As the only manufacturer of electric vehicles in India we have been playing a very active role in driving the adoption of EVs for more than a decade now. With four vehicles launched just last year and through various pilots that we are running with our strategic partners we have proven time and again that electric vehicles are not just sustainable but also economically viable. This partnership with MFCWL will help us further establish the longevity of electric mobility as a solution to address urban transportation needs. Through this first of its kind association we are reinforcing the fact that EVs are the future and they are here to stay said Mr. Mahesh Babu CEO Mahindra Electric Mobility Ltd. We are delighted to be associated with Mahindra First Choice Wheels India pre-eminent used car brand. The used car market in Bengaluru is growing at a rapid pace and Mahindra First Choice Wheels offers a strong value proposition of trust credibility and exceptional service to customers. We are excited to partner with Mahindra First Choice Wheels to provide eco friendly and value for money solutions to our customers here said Mr. Sunil Sukhija Proprietor Car Connect. MFCWL embarked on its strategy of building the used vehicle eco system in India in 2007. The company has played a pioneering role in shaping and developing the organized used vehicle eco system by connecting the retail and wholesale side of the business through investments made in the creation of its physical and online assets. With a suite of innovative products and services extended through its unique On the ground and In the cloud hybrid business model MFCWL has powered more than million used vehicle transactions in FY17. About Mahindra First Choice Wheels Mahindra First Choice Wheels is a dominant player in the Indian used vehicle eco system providing products and services to cater to the needs of retail and wholesale customers utilizing its on-the-ground and in-the-cloud capabilities. The company business model is based on 4 key building blocks:Vehicle retail ndash; Under the Mahindra First Choice brand name the company has created a unique franchisee driven business model and is on a mission to transform the way used cars are retailed in the country. The company has a network of 1200 plus outlets spread across 600 plus cities which include metros mini metros and smaller towns. The cumulative retail footprint under the Mahindra First Choice brand is over a million sq feet. (www.mahindrafirstchoice.com) Vehicle auctions ndash; The company is the market leader in the online auction space having sold in excess of 3 lakh vehicles through the eDiig; auction platform (www.ediig.com). eDiig is a classic wholesale marketplace where multiple sellers and buyers compete in a transparent online environment. With over 20000 registered buyers and sellers eDiig aims to leverage its True time bids; solution to seamlessly bridge the requirements of offline and online participants thus enabling transparency and superior vehicle price discovery. eDiig Auctions take place across 1000 locations in India and over 85000 vehicles were sold through its platform in FY 17. With its mobile auction application eDiig now the company will provide buyers on-the-go auction and bidding services. The company has extended its auction solution to vehicle yards through the Yard Management System (YMS) a one-of-a-kind mobile application that supports auction clients with their vehicle life cycle management processes. All these have made eDiig Indias most trusted Automobile Exchange Platform. Vehicle inspections ndash; Autoinspekt is a comprehensive used vehicle inspection and valuation service for lenders dealers OEMs and consumers. By combining the use of technology and assurance of physical inspection Autoinspekt has built capabilities to service inspection and valuation needs across categories and purposes. (www.autoinspekt.com) Vehicle pricing - Access to used car transactions data across retail and wholesale channels gave the company an opportunity to develop the IndianBlueBook.com which is also referred to as IBB. Having started out as a used car pricing widget Indianbluebook.com has transformed into a full-fledged online research platform for customers to buy and sell their car.(www.indianbluebook.com) The company unique business model has also been acknowledged by external investors. The company has raised funding from Silicon Valley based Hedge Fund Valiant Capital and Cox Automotive a $17 Billion US based enterprise providing digital marketing classifieds software wholesale and eCommerce solutions to dealers consumers manufacturers and financial institutions. Its brands include Manheim Autotrader Kelley Blue Book Dealertrack vAuto Xtime. About Mahindra The Mahindra Group is a USD 17.8 billion federation of companies that enables people to rise through innovative mobility solutions driving rural prosperity enhancing urban living nurturing new businesses and fostering communities. It has a leadership position in utility vehicles information technology financial services and vacation ownership in India and is the world largest tractor company by volume. It also enjoys a strong presence in agribusiness components commercial vehicles consulting services energy industrial equipment logistics real estate steel aerospace defence and two wheelers. Headquartered in India Mahindra employs over 200000 people across 100 countries. Learn more about Mahindra onwww.mahindra.com/ Twitter and Facebook: @MahindraRise