Mahindra XEV 9S BaaS Launch Price Rs 12.65 L – XEV 9e Rs 13.90 L

Mahindra has expanded its Battery-as-a-Service (BaaS) programme across its entire Electric Origin SUV portfolio. Initially introduced with BE 6 SPORTEQ, the financing option is now available with XEV 9S and XEV 9e as well. With BaaS, prices start from Rs 11.45 lakh, while battery EMI starts at Rs 6,975 per month.

The timing of this expansion is interesting, coming soon after the launch of MG Hector Tomahawk EV. With manufacturers increasingly using battery financing to lower the upfront acquisition cost of electric cars, competition in the electric SUV space is getting more aggressive.

Mahindra BaaS Prices Start At Rs 11.45 Lakh

Under the expanded programme, BE 6 SPORTEQ is available at a starting BaaS ex-showroom price of Rs 11.45 lakh. XEV 9S starts at Rs 12.65 lakh, whereas XEV 9e starts at Rs 13.90 lakh. BaaS is being offered across all variants of these three Electric Origin SUVs.

Instead of including the entire cost of the battery in the vehicle’s purchase price, Mahindra’s BaaS programme uses a dual-financing structure where the vehicle and battery are financed separately. This brings down the advertised upfront price of the electric SUV. Battery EMI starts at Rs 6,975, translating to an effective usage cost of Rs 3.75/km under Mahindra’s specified calculation. However, this figure needs some context.

Mahindra has clarified that its BaaS offering is a finance product and not a pay-per-use programme. The Rs 3.75/km effective cost is calculated assuming usage of 60 km per day along with a specific down payment. Actual battery EMI will vary depending on factors including battery capacity, down payment and loan tenure. The BaaS prices also exclude charger cost, road tax, insurance, TCS and other applicable statutory levies. The programme is currently applicable only for personal use.

Timing Comes Amid Growing EV Price Competition

Mahindra’s decision to extend BaaS across its Electric Origin portfolio comes at a time when battery financing is increasingly being used to reduce the entry price of EVs. MG has already been among the prominent proponents of BaaS in India, separating the battery component from the initial vehicle acquisition price on multiple models.

The latest expansion could be particularly significant for XEV 9S and 9e. MG Hector Tomahawk EV has recently entered this segment, adding another competitor and putting greater focus on pricing and financing options.

While Mahindra has not linked its BaaS expansion directly to the arrival of Hector Tomahawk EV, the timing makes for an interesting development. XEV 9S can now be advertised with an entry price of Rs 12.65 lakh under BaaS, potentially making its initial acquisition cost more attractive to buyers comparing large electric SUVs.