81
/
2
Min Read
Mahindra has expanded its Battery-as-a-Service (BaaS) ownership programme across its entire Electric Origin SUV lineup. The company has now included the BE 6 SPORTEQ, XEV 9S and XEV 9e under the scheme. The BaaS model is aimed at reducing the upfront purchase cost of electric vehicles.
Under the revised financing structure, the starting price of the BE 6 SPORTEQ is Rs 11.45 lakh, while the XEV 9S starts at Rs 12.65 lakh and the XEV 9e at Rs 13.90 lakh. These prices exclude the cost of the battery, allowing customers to pay a lower upfront amount when purchasing the vehicle.
According to Mahindra, the separate battery financing model offers an effective running cost starting at Rs 3.75 per kilometre. This calculation is based on an initial monthly battery EMI of Rs 6,975, assuming an average daily running of 60 kilometres and a specified down payment.
Under the Battery-as-a-Service (BaaS) model, the battery pack, which generally accounts for a significant portion of an EV's overall cost, is separated from the vehicle's capital cost. This reduces the initial price of the electric SUV and can make EV ownership more accessible to customers.
Mahindra has clarified that its BaaS model is not a pay-per-use scheme but a dual-loan financing arrangement. Under this structure, separate loans for the vehicle and battery are facilitated through respective financiers. The battery EMI may vary depending on the battery size, loan tenure and the customer's down payment.
The vehicle prices listed by the company exclude charging equipment, road tax, insurance, registration fees, maintenance and charging expenses. Through the BaaS model, Mahindra aims to lower the upfront cost of EV ownership and expand the reach of its Electric Origin SUV range among customers.
