13 Dec 2024
Mahindra and Vidyut Launch Flexible Battery Rental Service
Mahindra Last Mile Mobility (MLMML) has partnered with Bengaluru-based EV startup Vidyut to introduce a Battery-as-a-Service (BaaS) program. This initiative aims to make electric vehicles (EVs) more affordable by providing a flexible battery rental option. The collaboration was announced recently and focuses on Mahindra’s EV models, including the ZEO (4W), Zor Grand, and Treo Plus (3Ws).
Under this program, customers can rent EV batteries starting at just ₹2.50 per kilometre. Moreover, this approach significantly reduces upfront costs by up to 40% compared to traditional ICE vehicles.
Key Highlights of the BaaS Program
-
Minimal Rental Fees: Customers can rent EV batteries for a low cost starting at ₹2.50 per kilometre.
-
Upfront Cost Reduction: The initiative reduces the initial cost of EV ownership by up to 40%.
-
Flexible Ownership Options: Customers can choose to continue renting, purchase the battery, or exit the program at any time.
-
Wide Model Coverage: The BaaS program includes Mahindra’s ZEO, Zor Grand, and Treo Plus models.
Statements from Key Officials
Suman Mishra, Managing Director & CEO of MLMML, stated, “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.”
Xitij Kothi, Co-Founder of Vidyut, shared, “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. We view batteries as fuel, not assets.”
Major Impact of the BaaS Program
Enhanced EV Affordability
The BaaS model addresses one of the biggest barriers to EV adoption—high initial costs. By offering flexible battery rental options, Mahindra and Vidyut are making EV ownership more accessible to a larger audience.
Sustainable Mobility Goals
This initiative aligns with India’s push toward greener transportation by reducing reliance on fossil fuels and encouraging the use of electric vehicles.
Customer-Centric Approach
The flexible options provided under this program ensure that EV ownership is tailored to individual financial preferences. Consequently, customers gain greater control over their investment.
Fueling India’s EV Transition
The partnership between Mahindra and Vidyut marks a significant step in making EVs a more viable option for everyday use. By addressing financial barriers and providing flexible battery solutions, this initiative paves the way for broader EV adoption across the country.
Follow us for the Latest Truck Industry Updates -
☞ Facebook - https://bit.ly/TruckFB
☞ Instagram - https://bit.ly/TruckInsta
☞ YouTube - https://bit.ly/TruckYT
