Vidyut and Mahindra Revolutionize EV Ownership with BaaS Model

In a significant move to accelerate the adoption of electric vehicles (EVs) in the commercial sector, Vidyut, a Bengaluru-based full-stack EV startup, has introduced an innovative Battery-as-a-Service (BaaS) program. This groundbreaking initiative, in collaboration with Mahindra Last Mile Mobility Limited, allows customers to rent EV batteries on a pay-as-you-go basis, starting at an affordable rate of ₹2.50 per kilometer.

The BaaS model enables customers to separate battery ownership from vehicle ownership, reducing the upfront cost of EV acquisition by up to 40%. Vidyut’s program covers popular commercial EVs such as the Mahindra ZEO (4W), Zor Grand, and Treo Plus (3Ws), making these vehicles more accessible to a wider audience.

How the BaaS Model Works

Under the BaaS framework, customers can rent a battery for their EV instead of purchasing it outright. The pay-per-use system charges based on the number of kilometers driven, aligning operational costs with vehicle usage. Customers also have the flexibility to either continue with the rental program or buy out the battery at the end of the financing term, offering unmatched financial versatility.

The program not only lowers initial investment but also eliminates concerns over battery maintenance, replacement, and lifecycle management. Vidyut takes responsibility for these aspects, ensuring optimal battery performance and sustainability through proper recycling and upgrades.

Driving Accessibility and Sustainability

Suman Mishra, Managing Director & CEO of Mahindra Last Mile Mobility Limited, emphasized the transformative potential of the BaaS model, stating:
“Through the Battery-as-a-Service option, we aim to make electric mobility more accessible by lowering the upfront cost, thereby encouraging wider adoption of EVs in the commercial sector.”

Xitij Kothi, Co-Founder of Vidyut, highlighted the program’s customer-centric approach, saying:

“Our approach focuses on treating batteries as a service, enabling customers to pay only for the battery while reducing the financial burden of EV ownership.”

Expanding the EV Ecosystem

Mahindra Last Mile Mobility Limited, India’s leading manufacturer of electric commercial vehicles, has played a pivotal role in offering sustainable last-mile mobility solutions. With a product portfolio that includes electric, petrol, CNG, and diesel options such as the Treo, Zor Grand, and e-Alfa, Mahindra continues to set industry benchmarks.

The introduction of the BaaS model is particularly advantageous for logistics and delivery sectors, where operational efficiency is paramount. By offering a cost-effective, flexible solution for battery ownership, this initiative is poised to drive mass adoption of EVs, bridging the gap between sustainability and affordability.

A Sustainable Future for EVs

The BaaS model addresses key challenges in the EV ecosystem, such as high battery costs and environmental impact. By encouraging battery rental and responsible lifecycle management, this approach supports India’s transition to greener transportation while mitigating the strain on natural resources.

As the EV market matures, initiatives like Vidyut’s BaaS program represent a crucial step toward democratizing electric mobility and achieving the nation’s broader sustainability goals.