Mahindra Last Mile Mobility Limited (MLMML) has partnered with Vidyut, a Bengaluru-based EV startup, to offer a Battery-as-a-Service (BaaS) financing option for its electric vehicles. This collaboration aims to make electric vehicles more affordable and accessible to customers. With BaaS, customers can rent the battery for as little as Rs 2.50 per kilometre, reducing upfront costs by up to 40% compared to traditional petrol or diesel vehicles. The service applies to Mahindra’s electric models such as the ZEO, Zor Grand, and Treo Plus. Customers can choose to continue renting the battery or buy it outright after the financing period. They can also exit the rental program at any time by paying the remaining battery value. This partnership is expected to increase the adoption of electric vehicles by reducing the initial cost.
Mahindra Ventures into Sustainable Mobility with Vidyut’s Innovative Battery Rental Solution for Electrified Vehicles
by newsworm | Dec 12, 2024 | Automobile, Mahindra