Mahindra BE 6 Sporteq BaaS Explained: Price, Payment Plan

Mahindra has updated the Mahindra BE 6 electric SUV, giving it cosmetic updates, a new battery pack option, and a new name: Mahindra BE 6 Sporteq. One of the chief updates is that the BE 6 Sporteq is now available under the BaaS scheme, making it more accessible to buyers. If you are looking for a BE Sporteq or any other electric SUV with BaaS, here is a breakdown of the Mahindra BE 6 Sporteq BaaS, including its price and payment plan, to help you make a reasonable budget.

What is BaaS?

BaaS refers to Battery-as-a-Service. It is an EV ownership model in which the battery can be used as a service. In BaaS, the battery’s price and the electric vehicle’s price are separate. You can buy the vehicle and use its battery as a service.

Now, one can use the EV’s battery as a service in two ways. One is exchanging the fully drained battery with a fully charged one at a swapping station. This model is generally used for commercial electric vehicles. The second is paying a monthly fee to the BaaS service provider for battery use.

The payment to use the battery is more like a battery EMI, since it depends on the loan you take out for it. Meanwhile, you can buy the vehicle, whether on loan or in cash, without taking the battery’s price into account. Usually, the battery loan tenure is longer than the vehicle loan tenure.

Mahindra BE 6 Sporteq BaaS Prices

The Mahindra BE 6 Sporteq BaaS price range starts from Rs. 11.45 lakh and ends at Rs. 16.95 lakh. Considering its ex-showroom prices, the BE 6 Sporteq battery costs Rs. 8 to 10 lakh. For all BE 6 Sporteq variants, the battery subscription charge under the BaaS scheme is Rs. 3.75/km.

Notably, the battery subscription charge, or the per-kilometre running cost, depends on the loan amount and EMI decided for the battery. For BE Sporteq, Mahindra has set the battery subscription charge based on a minimum daily running of 60 km. This means the minimum monthly running is 60 km × 30 = 1,800 km. So, the monthly battery subscription charge, or the battery EMI, for BE 6 Sporteq BaaS will be around Rs. 3.75 × 1,800 = Rs. 6,750.

Another key point to consider is that the per-kilometre charge does not include RTO tax, Insurance, TCS, or other statutory taxes. You will have to pay taxes on the full value of the vehicle because the battery is included in that value.

Taking every factor into account, it can be concluded that the more you pay upfront in cash, the more you can save. To make the most of the BE 6 Sporteq BaaS, the best-case scenario is to buy the vehicle in cash and use the battery under the BaaS scheme. That way, you will need to take a loan of only Rs. 8-10 lakh for the battery. Meanwhile, if you take a loan for the vehicle as well, it would be wise to make the largest possible down payment, as it would help you take out a smaller loan. A loan, whether on the vehicle or battery, comes with a rate of interest, which eventually adds up to considerably increase the amount you repay.

Value Additions

The Mahindra BE 6 Sporteq is offered with some standard value benefits, including:

• Lifetime warranty on the battery pack for the first owner. However, if the car is resold, the warranty is reduced to 10 years/2,00,000 km for the second owner. Note that the 10-year/2,00,000 km period is calculated from the day the vehicle was purchased as a brand-new model.
•  A 7.4 kW or 11.2 kW AC charger is available at an additional cost.

Final Thoughts

While buying a Mahindra BE 6 Sporteq under the BaaS scheme is an economical ownership model, BaaS is essentially a dual-finance model rather than a battery-rental model. With BaaS, you get separate loans for the electric vehicle and its battery. However, if you finance both the vehicle and its battery, the aggregate EMI can be nearly the same as, or even higher than, the EMI for financing the vehicle as a single unit (battery + chassis). So, the larger your down payment, the more beneficial BaaS should be for you.

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