Mahindra XEV 9S BaaS Explained: Price, Payment Plan

The Mahindra XEV 9S is one of India’s best-selling SUVs. It sells around 4,000 units every month. This is a commendable feat considering it is a 7-seater electric SUV, costing above Rs. 20 lakh. That said, Mahindra has made XEV 9S ownership easier by offering a Battery-as-a-Service programme. As usual, BaaS slashes the XEV 9S upfront cost by a great margin. Here is an explanation of the Mahindra XEV 9S BaaS scheme, including its price and payment plan.

What is BaaS?

BaaS means Battery-as-a-Service. Essentially, BaaS is a dual-loan model for an electric vehicle, where you can use the battery as a service instead of paying its full cost when you buy the vehicle. In BaaS, the battery’s cost remains separate from the rest of the electric vehicle’s cost.

BaaS models are of two types. In passenger electric vehicles, one can use the battery by paying a monthly fee to the BaaS service provider. In commercial electric vehicles, you can swap a fully drained battery for a fully charged one at a swapping station.

Battery payments are more like a battery EMI, since they depend on the loan you take out. Meanwhile, you can buy the vehicle, whether on loan or in cash, without factoring in the battery price. Usually, the battery loan tenure is longer than the vehicle loan tenure.

ALSO READ: Battery as a Service (BaaS) Explained

Mahindra XEV 9S BaaS Prices

The Mahindra XEV 9S BaaS price range is Rs. 12.65 lakh to Rs. 19.95 lakh. Considering its ex-showroom prices, the XEV 9S battery costs Rs. 8.75 to 10.2 lakh. For all XEV 9S variants, the battery subscription charge under the BaaS scheme is Rs. 3.75/km.

That said, in reality, the battery subscription charge, or the per-kilometre running cost, depends on the loan amount and EMI decided for the battery. The battery subscription charge is basically the EMI divided by the number of kilometres driven in a month. Rs. 3.75 per kilometre is a minimum limit, and it can be higher if the approved battery loan is higher.

Now, speaking of the number of kilometres driven in a month, Mahindra sets the battery subscription charge based on a minimum daily run 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 XEV 9S BaaS will be at least Rs. 3.75 × 1,800 = Rs. 6,750.

Please note that the battery subscription cost 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.

Because the XEV 9S’s battery costs Rs. 8.75 – 10.2 lakh, you will not have to pay Rs. 8 to 10 lakh upfront. However, you will get a loan for this amount and pay monthly EMI’s to use the battery. As with all loans, the battery loan will have an interest rate, which increases the amount you repay. In addition, if you also finance the vehicle (BaaS price: Rs. 12.65–19.95 lakh), you will need to pay around Rs. 21,000 as the vehicle EMI (for 12.65 lakh), separately from the battery EMIs. So, it’s wise to estimate this before you consider buying the XEV 9S with BaaS. To make the most of the XEV 9S BaaS, the more you pay upfront, the smaller the loan you need and the lower your EMIs. The best-case scenario is to buy the vehicle in cash and use the battery under the BaaS scheme.

ALSO READ: Mahindra XEV 9e BaaS Explained: Price, Payment Plan

Value Additions

The Mahindra XEV 9S 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. 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

The Mahindra XEV 9S under BaaS is a great option for buyers looking to buy the SUV on a tight budget. At the same time, remember that BaaS only reduces the upfront cost of the electric vehicle by financing its battery. The buyer eventually needs to pay the entire cost of the electric vehicle and its battery. Moreover, if you also finance the vehicle, the combined vehicle and battery EMI can be nearly the same as, or even higher than, the EMI for financing the vehicle as a single unit (battery + chassis). That said, remember that the more you pay upfront, the more advantageous the BaaS programme will be.

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