Battery-as-a-Service (BaaS) now available across the entire Electric Origin SUV portfolio

BaaS / Dual Loan is a financing solution that helps reduce the upfront purchase cost of the vehicle by financing the vehicle and battery separately through a dual-loan structure. It is designed to make EV ownership more accessible. This helps reduce EMI burden by offering a longer repayment period on the battery component. Any dispute pertaining to Finance scheme needs to be resolved between Financier and customer, with no involvement or recourse to M.E.A.L.

No. BaaS / Dual Loan offered by financiers on Mahindra’s EV is neither a battery subscription, nor battery rental / pay-per-use program. Customers purchase the vehicle and battery as a complete package and own both. There are no battery usage charges linked to kilometres driven.

No. The ₹3.75/km figure is an illustrative representation of battery financing cost and is based on an assumed vehicle usage of 60 km per day (approximately 1,860 km per month) and a specific Down Payment. It should not be interpreted as a usage-based charge.

Under BaaS / Dual Loan program offered by financiers on Mahindra’s EV product, the battery is not charged on a pay-per-kilometre basis, and there is no battery subscription or pay-per-use fee. The customer's EMI is determined at the time of loan sanction by the finance partner based on factors such as the loan amount, tenure, interest rate and applicable financing norms.

Therefore, whether a customer drives 100 km per month, 1,000 km per month, 1,800 km per month, or more, the EMI remains unchanged for the duration of the loan, subject to the terms of the financing agreement.

Key takeaway: The ₹3.75/km figure is only an illustrative affordability metric based on an assumed usage of 60 km per day and a specific Down Payment. It is not a perkilometre charge, and actual monthly driving does not increase or decrease the EMI.

The customer owns both the vehicle and the battery. The financing structure may split the vehicle and battery into separate loans, but ownership remains with the customer, subject to the terms of the financing agreement. RC of the vehicle is hypothecated to the respective financier.

Depending on the financier's structure, the vehicle and battery will have separate EMI components. Together, these form the customer's total monthly financing obligation. The precise payment mechanism will be communicated by the financing partner.

No. BaaS / Dual Loan offered by financiers on Mahindra’s EV is not a pay-per-use or per-kilometre subscription model and does not require customers to commit to a minimum monthly usage. Ownership cost simulations may use assumed running distances for illustration purposes, but actual vehicle usage is entirely at the customer's discretion.

Interest rates, processing fees, repayment schedules and other financing terms are determined by the participating finance partner. The applicable rate may vary based on the customer's credit profile, tenure selected and the financier's prevailing policies.

BaaS / Dual Loan is offered through select participating finance partners. Customers can check with their nearest Mahindra dealership for the latest list of approved financiers and applicable offers available at the time of purchase.

No. Under BaaS / Dual Loan offered by financiers on Mahindra’s EV , the required loan amount will be split across Chassis and Battery with differential tenures. The loan amount approval of such a structure depends on the participating financier's policies and the financing product selected. Customers should consult the finance partner for the loan structures and funding options available to them.

Loan tenure for the vehicle and battery financing components is determined by the finance partner and may vary based on customer eligibility, product structure and financier policies. 

Typically, vehicle financing is usually offered for up to 5 years (deviations at the sole discretion of financier), while battery financing may be offered for up to 8 years, although the actual tenure can vary depending on the participating financier and the financing plan selected by the customer.

Customers should refer to the finance partner's final loan offer for the applicable tenure, interest rate and repayment terms.

Once all dues under the financing agreement have been repaid in accordance with the lender's terms, the financing arrangement concludes. The customer continues to own and use the vehicle and battery as per the applicable ownership and registration requirements.

Financiers issued N.O.C. (No Objection Certificate) to remove the hypothecation on the financed vehicle will be blocked till all the Dues are cleared across both the loans (Vehicle & Battery).

No. Customers opting for BaaS receive the same battery warranty offered for the respective vehicle model, subject to the standard warranty terms and conditions. Financing choice does not alter the warranty coverage.

No, the vehicle cannot be transferred to any other person without the Financier’s NOC. Sale or transfer of a financed vehicle is subject to the terms of the financing agreement and applicable regulatory requirements. Customers should consult the finance partner before initiating a transfer.

Any delay or default in repayment will be handled in accordance with the finance partner's policies and the applicable financing agreement. Customers should contact the financier if they anticipate repayment difficulties. 

Insurance claims, loan settlement and any outstanding repayment obligations will be governed by the insurance policy, financing agreement and applicable terms. Customers should contact their insurer and finance partner for guidance.