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Informist, Friday, Aug. 28, 2026

 

--M&M extends battery-as-a-service program across electric origin SUVs 

 

MUMBAI – Mahindra & Mahindra Ltd. Friday said it is making its battery-as-a-service purchase option available across its electric sports utility vehicle line-up, after initially making it available only for the BE 6 SPORTEQ. "The programme has received an overwhelming response from customers across the country, validating the demand for ownership solutions that lower the barriers to EV adoption," the company said in an exchange filing.

 

Under this programme, the XEV 9S can be bought starting at INR 1.27 million and the XEV 9e starting at INR 1.39 million. Currently, the XEV 9S ranges from INR 2.0 million to INR 3.09 million, while the XEV 9e ranges from INR 2.19 million to INR 3.13 million. The BE 6 SPORTEQ was launched at a price of INR 1.15 million. Excluding the battery-as-a-service option, prices range from INR 1.95 million to INR 2.70 million.

 

"BaaS (battery-as-a-service) prices mentioned are based on a Battery EMI starting at INR 6,975 at an effective usage cost of INR 3.75/km, considering 60 km/day usage and a specific down payment, and exclude charging, maintenance, and repair costs," the company said. 

 

The battery-as-a-service model lowers the cost of purchasing electric vehicles significantly by separating the battery pack from the vehicle's initial purchase price. At the time of purchase, the battery costs around 30-40% of the total price. Customers have to pay a recurring subscription cost, or a per-kilometre fee, to rent the battery.  

 

For the June quarter, Mahindra & Mahindra reported a consolidated net profit of INR 36.85 on revenues of INR 419.59 billion. Friday, its shares ended 0.1% higher at INR 3,334 on the National Stock Exchange.  End

 

Reported by Anand JC

Edited by Saji George Titus

 

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