Mahindra XEV 9S, XEV 9e: How BaaS Actually Works
BaaS isn’t a pay-per-use rental scheme, despite what the name might suggest — it’s structured as a dual-loan finance product, with the vehicle and battery financed through separate loan agreements. The battery portion works out to an effective usage cost of Rs 3.75 per km based on a Battery EMI starting at Rs 6,975, calculated assuming 60km of daily usage and a specific down payment.