TL;DR
Mahindra has expanded its Battery-as-a-Service program to all Electric Origin SUVs, making EVs more affordable by separating vehicle and battery financing.
Mahindra has extended its innovative Battery-as-a-Service (BaaS) financing program to encompass its entire Electric Origin SUV portfolio in India. This strategic expansion now includes models such as the BE 6 SPORTEQ, XEV 9S, and XEV 9e, aiming to significantly lower the entry barrier for customers considering electric vehicle ownership.
The BaaS model separates the financing of the vehicle from its battery, allowing for a reduced upfront purchase price for the EV. Customers instead pay for the battery through a separate finance arrangement, typically based on usage. For the XEV 9S and XEV 9e, prices now start from ₹12.65 lakh and ₹13.90 lakh respectively under this program, with battery financing calculated at an effective usage cost of ₹3.75 per kilometre.
This broader availability of BaaS, initially introduced with the BE 6 SPORTEQ, is anticipated to simplify the EV purchasing process and address the common consumer concern of high initial battery costs. Mahindra views this dual-financing structure as a key enabler for accelerating electric mobility adoption across a wider demographic of buyers.
