National News (29 August 2026): Mahindra has expanded its Battery-as-a-Service (BaaS) financing programme to its complete Electric Origin SUV portfolio, giving customers a lower-cost entry point into its electric vehicle range and greater flexibility in managing EV ownership expenses. The programme is now available across the BE 6 SPORTEQ, XEV 9S and XEV 9e, following a strong customer response to the BaaS model introduced with the BE 6 SPORTEQ.
Unlike a conventional EV purchase, Mahindra’s BaaS structure separates the financing of the vehicle from that of the battery. This dual-financing model is designed to reduce the initial amount customers need to pay for the vehicle while spreading the battery cost through a separate finance arrangement.
XEV 9S and XEV 9e Get Lower Entry Prices Under BaaS
With the latest expansion, the Mahindra XEV 9S can now be purchased from ₹12.65 lakh under the BaaS structure, while the XEV 9e starts at ₹13.90 lakh. For both models, battery financing is based on an effective usage cost of ₹3.75 per kilometre, subject to the applicable financing structure and customer eligibility. Mahindra has also made BaaS available across all variants of the BE 6 SPORTEQ, rather than limiting the programme to selected versions.
The company believes that separating vehicle and battery financing can make the transition to electric mobility more accessible for a wider section of buyers, particularly those who may be hesitant because of the relatively high upfront cost of an EV.
Battery Financing Separates the Upfront Cost
Under the BaaS model, customers finance the electric SUV and battery separately. For the BE 6 SPORTEQ, Mahindra says the vehicle can be acquired at an upfront price of ₹11.45 lakh, while the battery financing carries an effective usage cost of ₹3.75 per kilometre under the specified assumptions. The company has positioned this structure as an alternative way of managing EV ownership costs rather than as a conventional pay-per-kilometre battery rental programme.
According to Mahindra, the battery component involves a separate finance product provided by the respective financing partner. Approval depends on the financier’s assessment and remains subject to applicable terms and conditions.
Mahindra Responds to Growing Demand for Flexible EV Ownership
The expansion follows what Mahindra describes as an overwhelming response to the BaaS programme from customers across India. The company said the response indicates growing interest in ownership models that can reduce the initial financial barrier associated with electric vehicles. By extending the programme to its flagship electric SUVs, Mahindra is seeking to make its EV portfolio accessible to customers with different purchasing and financing preferences.
The move also comes as automakers increasingly explore alternative financing structures to address one of the key challenges in the EV market—the comparatively higher upfront acquisition cost of electric vehicles.
What Mahindra’s BaaS Model Means for Buyers
Mahindra’s BaaS programme is based on a dual-loan structure, where the vehicle and battery are financed separately. The company says the arrangement is intended for personal use and is not a conventional pay-per-use service.
The advertised battery EMI for the BaaS structure starts at ₹6,975, with the stated effective usage cost of ₹3.75 per kilometre calculated using specific assumptions, including 60 km of daily usage and a particular down payment. However, the actual battery EMI can vary depending on factors such as the battery capacity, down payment and loan tenure. Customers should also note that the advertised BaaS prices do not include several additional ownership expenses. These include charging costs, maintenance, repairs, charger costs, road tax, insurance, TCS and other applicable statutory charges.
Mahindra’s Broader EV Strategy
The BaaS expansion is another step in Mahindra’s broader push to build its presence in India’s rapidly developing electric passenger vehicle market. The company’s Electric Origin SUV portfolio is aimed at offering purpose-built electric vehicles rather than simply electrified versions of existing internal-combustion models. By combining its electric SUV portfolio with flexible financing options, Mahindra is attempting to address both sides of EV adoption: product availability and affordability. The latest move also gives prospective buyers more flexibility in evaluating an electric SUV based on monthly financial commitments rather than only its headline purchase price.
BaaS Now Covers Mahindra’s Full Electric Origin SUV Portfolio
Following the latest announcement, Mahindra’s BaaS offering covers the BE 6 SPORTEQ, XEV 9S and XEV 9e, making the financing model available throughout its current Electric Origin SUV range. The company expects the broader availability of BaaS to further simplify the EV purchase journey and reduce one of the biggest hurdles for prospective electric vehicle buyers—the upfront cost of battery technology.
Mahindra said the initiative reflects its focus on putting customer choice at the centre of EV ownership and providing financing solutions that are more flexible and adaptable to individual requirements.
Key BaaS Prices at a Glance:
* Mahindra BE 6 SPORTEQ: Starts at ₹11.45 lakh under BaaS
* Mahindra XEV 9S: Starts at ₹12.65 lakh under BaaS
* Mahindra XEV 9e: Starts at ₹13.90 lakh under BaaS
* Battery financing: Effective usage cost of ₹3.75/km under specified conditions
* Availability: Across all variants of BE 6 SPORTEQ, XEV 9S and XEV 9e
* Battery EMI: Starting at ₹6,975 under the stated assumptions
Mahindra said the programme is intended to provide customers with a smarter and more flexible route to EV ownership while supporting the company’s larger objective of accelerating electric mobility adoption in India.
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