Mahindra & Mahindra recently introduced the XEV 9e and XEV 9S with the Battery-as-a-Service (BaaS) rental scheme, which has brought down their upfront prices by Rs 8 lakh. Under the BaaS program, the Mahindra XEV 9e is available at a starting price of Rs 13.90 lakh, while the Mahindra XEV 9S costs Rs 12.65 lakh (all, ex-showroom). With such aggressive pricing, these electric SUVs get an additional pricing edge advantage over their rivals.
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What is BaaS service?
BaaS is a pricing program designed to reduce the upfront cost of electric vehicle (EV) ownership. Under this scheme, the cost of the battery is separated from the vehicle’s upfront price, enabling customers to pay a lower initial amount.
Customers either pay a recurring battery rental or usage-based charge such as per-kilometre fee, while the vehicle and battery may be financed separately. It’s important to note that the charges, interest rate, tenure and other terms vary depending on the financier and the BaaS program.
Mahindra XEV 9e & XEV 9S BaaS Explained
Mahindra has achieved aggressive pricing for the XEV 9e and XEV 9S by excluding the cost of the battery pack from the upfront price of these EVs.
Buyers have to pay for the usage of the battery pack at the rate of Rs 3.75 lakh per/km.
The advantage of this rental scheme is that buyers can own these electric SUVs at a much lower upfront price. Without BaaS, the Mahindra XEV 9e and XEV 9S are priced from Rs 21.90 lakh and Rs 20.65 lakh, respectively. Do note that the mentioned prices are ex-showroom and exclude the cost of the charger.
Customers should also keep in mind that the charging cost is separate from the amount they will be paying towards the battery rental. Both EVs are available with three charging options – 7.2kW AC home charger, 11kW AC home charger and 175kW DC fast charger.
The 79kWh battery pack of the Mahindra XEV 9e gets a lifetime warranty for the first owner, while the Mahindra XEV 9S comes with a 15-year or lifetime battery warranty for the fast owners.