Mahindra expands Battery-as-a-Service to XEV 9S, 9e SUVs
- Mahindra & Mahindra expands Battery-as-a-Service to XEV 9S and XEV 9e models
- Programme covers entire Electric Origin SUV portfolio including BE 6 SPORTEQ
- Starting prices are ₹12.65 Lakh for XEV 9S and ₹13.90 Lakh for XEV 9e
- Battery usage cost is fixed at ₹3.75/km assuming 60 km daily usage
*this image is generated using AI for illustrative purposes only.
Mahindra & Mahindra has expanded its Battery-as-a-Service (BaaS) programme across its entire Electric Origin SUV portfolio. The initiative now covers the BE 6 SPORTEQ, XEV 9S, and XEV 9e models.
Mahindra & Mahindra announced the expansion on August 28, 2026, through a press note issued by its subsidiary, Mahindra Electric Automobile Limited. The move aims to lower entry barriers for electric vehicle adoption by offering flexible ownership options.
Programme Details
The BaaS model allows customers to finance the vehicle and battery separately through a dual-financing structure. This approach reduces the upfront purchase cost while providing flexibility in managing monthly outflows.
The programme is now available across all variants of the three SUV models. Pricing starts at ₹11.45 Lakh for the BE 6 SPORTEQ, ₹12.65 Lakh for the XEV 9S, and ₹13.90 Lakh for the XEV 9e.
| Model | Starting Price | Battery Usage Cost |
|---|---|---|
| BE 6 SPORTEQ | ₹11.45 Lakh | ₹3.75/km |
| XEV 9S | ₹12.65 Lakh | ₹3.75/km |
| XEV 9e | ₹13.90 Lakh | ₹3.75/km |
Battery financing is offered at an effective usage cost of ₹3.75/km. This rate assumes a daily usage of 60 km and a specific down payment. The battery EMI starts at ₹6,975 under these conditions.
Key Terms
The company clarified that BaaS is a finance product offered by respective financiers and not a pay-per-use program. Finance approval remains at the discretion of the finance partner.
The stated prices exclude charger costs, road tax, insurance, TCS, and other statutory levies. The programme is intended for personal use only. Mahindra noted that the expansion follows an overwhelming customer response to the initial launch with the BE 6 SPORTEQ.
Historical Stock Returns for Mahindra & Mahindra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.12% | -2.65% | +2.95% | -1.87% | +0.10% | +330.11% |
How might Mahindra's expanded BaaS model influence competitor pricing strategies in the Indian EV SUV segment?
What are the projected long-term profitability implications for Mahindra Electric given the separation of vehicle and battery financing?
Could the ₹3.75/km usage cost structure incentivize higher daily mileage, thereby accelerating battery degradation and impacting resale values?
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