Mahindra Last Mile Mobility and Vidyut Launches Battery-as-a-Service for EVs

Mahindra Last Mile Mobility and Vidyut have launched a Battery-as-a-Service program for EVs, including the Mahindra ZEO, Zor Grand, and Treo Plus.

Mumbai - Mahindra & Mahindra Ltd., a leading commercial EV manufacturer’s subsidiary Mahindra Last Mile Mobility Limited (MLMML), has partnered with VidyutTech2024., an EV tailored platform, to launch Battery-as-a-Service (BaaS) for its electric vehicles, including the Mahindra ZEO (4W) and Zor Grand and Treo Plus (3Ws). Customers can rent the battery for a fee starting at Rs 2.50 per km, reducing the upfront cost of the vehicle by up to 40% compared to traditional ICE vehicles.

Mr. 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.”

Vidyut offers MLMML vehicle customers the option to either purchase the battery or continue with the rental program after the financing term. Vehicle owners can also choose to end the program at any time by paying the remaining value of the battery.

Mr. Xitij Kothi, Co-founder of Vidyut, said, "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. 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.”