- XEV 9S and XEV 9e starting price reduced by Rs 8 lakh with BaaS
- An additional Rs 3.75 will be charged for every kilometer traveled.
Basically, the BaaS program reduces the entry price of both the XEV 9e and XEV 9S by Rs 8 lakh, which is a significant saving on the initial cost of the vehicle. For reference, the prices of the XE 9S start from Rs 20.65 lakh, while the XEV 9e is priced at Rs 21.90 lakh (ex-showroom, without charger)
Additionally, Mahindra has also extended the BaaS program to all variants of the BE 6 Sporteq; Until now, it was only available in the Pack One and Pack Two models with the smaller 59 kWh battery. Mahindra, however, has not revealed the exact breakdown of BaaS prices by variants for each of the three electric vehicles.
The standalone battery financing model carries an effective running cost calculated at Rs 3.75 per km, based on an initial monthly battery EMI of Rs 6,975, assuming an average daily run of 60 kilometers along with a specific down payment.
What is BaaS?
BaaS is a pricing structure that excludes the cost of an electric vehicle’s battery pack from its ex-showroom price, offering the buyer a substantially lower upfront cost. The cost of the battery is then financed per kilometer of use for a certain duration and interest rate, depending on the financier. However, it is worth noting that charging costs are not included in the battery usage costs.
JSW-MG Motor India was the first automaker to offer BaaS with the Windsor. Since then, several other electric car manufacturers, such as Tata Motors, Maruti, Toyota, Hyundai and Citroen, have adopted this pricing strategy to promote the adoption of electric vehicles. Mahindra is now the latest automaker to adopt the BaaS model, although acceptance of BaaS among EV buyers remains very limited.
