Mahindra Extends BaaS Dual Loan Option to XEV 9e and XEV 9S

Mahindra has extended its Battery-as-a-Service (BaaS) dual loan option to the XEV 9e and XEV 9S, having first introduced the scheme on the BE 6 SPORTEQ. BaaS ex-showroom prices now start at ₹11.45 Lakh for the SPORTEQ, ₹13.90 Lakh for the XEV 9e, and ₹12.65 Lakh for the XEV 9S. Across all three, the battery carries an effective rental cost of ₹3.75 per km.

How the Battery Loan is Priced Across the Lineup

We have already explained how the BaaS dual loan option works in detail, and specifically broken down the cost for the BE 6 SPORTEQ. For Mahindra, the 59 kWh battery pack shared across the BE 6 SPORTEQ, XEV 9e and XEV 9S is priced at ₹8 lakh. On this basis, the battery loan works out to ₹4,93,397 at ~62% loan-to-value over 8 years at an EMI of ₹6,975, which is what produces the ₹3.75 per km rental figure assuming 1860 kms of running. This battery loan math is identical for all three SUVs, only the car loan portion changes with each vehicle's own price, which is why the battery EMI and per-km marketing cost stay the same across the XEV 9e, XEV 9S and BE 6 SPORTEQ even though their overall BaaS starting prices differ.

This also means the ₹69,341 saving we calculated from choosing a single loan over BaaS for the SPORTEQ applies just as well to the XEV 9e and XEV 9S. That figure comes entirely from stretching the same ₹4,93,397 battery loan from 5 to 8 years, not from anything specific to the car. Splitting a loan across the same tenure doesn't change the total amount paid, only stretching the tenure does, so the cost of choosing BaaS over a single loan stays constant regardless of which of the three Mahindra EVs you buy.