Mahindra Last Mile Mobility (MLMML) inked partnership with Vidyut (VT), a Bengaluru-based full-stack EV startup. The goal of this collaboration is to introduce Battery-as-a-Service (BaaS) financing for Mahindra Last Mile’s EVs, including the Mahindra ZEO (4W) and Zor Grand and Treo Plus (3Ws).
Mahindra Last Mile Mobility and Vidyut’s Collaboration
With the BaaS program, customers will pay a small rental fee starting at Rs. 2.50 per kilometer. This reduces the upfront cost of EVs by up to 40%, enabling them to rent the battery and making them more affordable compared to traditional ICE vehicles.
Vidyut on the other hand, will offer 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 off the remaining value of the battery.
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, “Now, in partnership with Mahindra Last Mile Mobility, 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.”
Mahindra Zeo
The Mahindra Zeo is an electric four-wheeler that gives a maximum power of 30 kW, 114 Nm of torque, and a top speed of 60. It has zero emission and has a battery capacity of 18.4 kW.
Mahindra Zor Grand
The Mahindra Zor Grand is an electric three- wheeler that gives a maximum power of 12 kW, 50 Nm of torque, and a top speed of 50. It has a battery capacity of 12.4 kWh and is a high speed goods carrier (L5N) vehicle.
Mahindra Treo Plus
The Mahindra Treo Plus is an electric three-wheeler that gives a maximum power of 8 kW, 42 Nm of torque, and a top speed of 55. It has a battery capacity of 10.24 kWh and is a high speed passenger carrier (L5M) vehicle.
About Mahindra Last Mile Mobility and Vidyut
A subsidiary of Mahindra and Mahindra, Mahindra Last Mile Mobility is an electric small commercial vehicle manufacturer that has manufactured EVs such as Treo range, Zor Grand and e-Alfa. It gives a wide range of electric, petrol, CNG, diesel last mile mobility three and four-wheeler passenger and cargo vehicles.
Founded in 2021, Vidyut is a start-up that makes commercial EV ownership simple, affordable, and risk-free; by using asset-underwriting algorithms and battery health data analysis, the company offers affordable financing through its unique battery subscription model, making EVs more accessible.
