Mahindra Last Mile and Vidyut introduce BaaS for 4W and 3W EVs • EVreporter

Mahindra Last Mile Mobility Limited (MLMML), a subsidiary of Mahindra & Mahindra Limited, and Vidyut, a Bengaluru-based EV solutions startup, have announced the launch of Battery-as-a-Service (BaaS) for MLMML’s electric vehicles. The service will be available for the Mahindra ZEO (4W), as well as the Zor Grand and Treo Plus (3Ws).

Under this program, customers can rent batteries with a pay-as-you-go model starting at ₹2.50 per kilometer, reducing the upfront vehicle acquisition cost by up to 40% compared to traditional ICE vehicles. Customers will also have the option to buy out the battery or continue with the rental program after the financing term. The program provides flexibility, allowing customers to discontinue the rental by paying the battery’s remaining value.

Ms. Suman Mishra, Managing Director & CEO of MLMML, said, “By introducing the Battery-as-a-Service option through Vidyut, we are demonstrating our dedication to making electric mobility more accessible to everyone. This partnership will undoubtedly contribute to the increased adoption of electric vehicles by enabling customers to purchase last mile EVs with a reduced initial cost.”

Commenting on this partnership, Xitij Kothi, Co-Founder of Vidyut shared,” As a company, we view batteries as fuel, while others see them as assets. Our question has always been when the vehicle isn’t on the road, why should you still pay for the battery? This is why we introduced Battery-as-a-Service (BaaS) into the EV ecosystem. Since our founding in 2021, Vidyut has made significant strides in developing this funding mechanism for commercial applications. Now, in partnership with Mahindra Last Mile Mobility Limited, we are excited to expand the innovation to 4W & 3W cargo and 3W passenger vehicles too. Our goal is to make sustainable mobility not only affordable but also accessible, enabling more people to embrace EV ownership without the financial burden that often comes with it.”

Also read: Mahindra Last Mile Mobility hits 2,00,000 EV sales in India’s commercial segment