Mahindra Group expanded its Battery-as-a-Service program across its full Electric Origin SUV lineup, bringing separate vehicle and battery financing to the XEV 9S, XEV 9e, and all variants of the BE 6 SPORTEQ. Under this financing structure, ex-showroom entry prices drop to Rs 11.45 lakh for the BE 6 SPORTEQ, Rs 12.65 lakh for the XEV 9S, and Rs 13.90 lakh for the XEV 9e, paired with battery financing calculated at an effective usage cost of Rs 3.75 per kilometer.
Key Takeaways
- Mahindra now offers Battery-as-a-Service across all variants of the BE 6 SPORTEQ, XEV 9S, and XEV 9e.
- Upfront vehicle acquisition costs start at Rs 11.45 lakh for the BE 6 SPORTEQ, Rs 12.65 lakh for the XEV 9S, and Rs 13.90 lakh for the XEV 9e.
- Battery financing operates at an effective usage cost of Rs 3.75 per kilometer, structured through fixed monthly installments.
- The dual-loan structure separates vehicle ownership from battery cost to lower initial entry barriers for Indian car buyers.
How the Dual Financing Model Works
The Battery-as-a-Service setup uses a dual-loan arrangement through approved financial institutions. Customers take one loan for the vehicle body and a separate loan for the battery pack. This model differs from a pay-as-you-go rental system, as the customer pays down a dedicated battery loan over a chosen tenure.
Financing figures start from a battery installment of Rs 6,975 per month, based on an estimated daily travel distance of 60 kilometers and a specific down payment. Total monthly payments vary depending on the battery capacity, loan duration, and initial cash down payment. Listed vehicle prices exclude charging equipment, road tax, registration, insurance, and statutory levies.
Portfolio Expansion and Market Impact
Mahindra first introduced the battery financing model with the launch of the BE 6 SPORTEQ. Strong customer response led the automaker to extend the option to its flagship electric SUVs, the XEV 9S and XEV 9e.
High acquisition costs remain a primary obstacle to electric car sales in India. Batteries represent 30% to 40% of an electric vehicle’s total production cost. By removing the battery value from the initial vehicle invoice, Mahindra brings the entry price of its electric SUVs in line with comparable petrol and diesel models.
The move follows similar initiatives in the Indian automotive market, such as JSW MG Motor India offering battery rental choices on the MG Windsor. Mahindra buyers can now tailor their upfront budget while distributing running expenses over time.
Frequently Asked Questions
Q1. What is the Mahindra Battery-as-a-Service scheme?
A1. It is a dual-loan purchase model where customers buy the vehicle shell and finance the battery separately through monthly loan installments.
Q2. Which Mahindra electric SUVs offer this program?
A2. The program is available across all variants of the BE 6 SPORTEQ, XEV 9S, and XEV 9e.
Q3. What are the starting ex-showroom prices under this model?
A3. Prices start at Rs 11.45 lakh for the BE 6 SPORTEQ, Rs 12.65 lakh for the XEV 9S, and Rs 13.90 lakh for the XEV 9e.
Q4. How much is the battery financing per kilometer?
A4. Battery financing is calculated at an effective cost of Rs 3.75 per kilometer, starting at Rs 6,975 per month based on a 60-kilometer daily driving cycle.
Q5. Is this a pay-per-use battery subscription?
A5. No, it is a formal loan product provided by finance partners rather than a per-kilometer pay-per-use rental program.
