The all-new Mahindra XEV 9S is one of India’s most anticipated electric SUVs — not just because of its futuristic design, but because it promises premium EV performance at a practical price.
Built on Mahindra’s dedicated INGLO platform, this 7-seater electric SUV will debut on 26–27 November 2025 in Bengaluru, with launch expected in early 2026.
So how much will the Mahindra XEV 9S actually cost on the road? Let’s break down its expected variant-wise prices, city-wise on-road costs, and where it stands among other premium electric SUVs.
1. Price Strategy — Mahindra’s Smart Positioning
Mahindra aims to position the XEV 9S below global premium EVs like the Hyundai Ioniq 5 and Kia EV6, yet well above entry-level EVs such as the Tata Nexon EV Max.
The company’s approach is clear:
⚡ Offer a luxury 7-seater EV for under ₹ 50 lakh.
⚡ Target the growing segment of Indian families ready to go electric.
⚡ Deliver global-grade features without global-level prices.
The pricing will follow Mahindra’s traditional multi-variant structure — offering base, mid, and top trims to appeal to different buyer segments.
2. Expected Variant-Wise Ex-Showroom Prices
| Variant | Battery Pack | Drive Layout | Expected Range | Estimated Ex-Showroom Price (₹) |
|---|---|---|---|---|
| XEV 9S Base | 60 kWh (LFP) | RWD | ~450 km | 35–38 lakh |
| XEV 9S Mid | 70 kWh (LFP) | RWD / AWD | ~500 km | 40–44 lakh |
| XEV 9S Top Luxury | 80 kWh (LFP) | AWD (dual motor) | ~550 km+ | 46–50 lakh |
The Base variant will appeal to urban users wanting practicality and range.
The Mid version balances features and performance, while the Top Luxury trim is expected to get AWD, ventilated seats, panoramic roof, 12-speaker audio, and the full ADAS suite.
3. Expected On-Road Prices (Major Cities)
On-road prices depend on RTO taxes, insurance, and state-level EV incentives. Below are estimated 2026 figures for key metros.
| City | Base Variant | Mid Variant | Top Variant |
|---|---|---|---|
| Delhi | ₹ 37 – 39 lakh | ₹ 42 – 46 lakh | ₹ 48 – 52 lakh |
| Mumbai | ₹ 38 – 40 lakh | ₹ 43 – 47 lakh | ₹ 49 – 53 lakh |
| Bengaluru | ₹ 39 – 41 lakh | ₹ 44 – 48 lakh | ₹ 50 – 54 lakh |
| Chennai | ₹ 37 – 39 lakh | ₹ 42 – 45 lakh | ₹ 48 – 52 lakh |
Estimates include insurance, registration, handling, and optional accessories.
Key Observations
- Delhi will likely be the most affordable due to state EV subsidies and road-tax exemptions.
- Bengaluru and Mumbai may have slightly higher on-road prices due to state levies.
- Chennai offers balanced pricing with supportive EV policies.
In all cities, the top-end XEV 9S will still undercut imported EVs like the Hyundai Ioniq 5 by nearly ₹ 5–8 lakh.
4. Subsidy & FAME-II Benefits
As of 2025, the FAME-II scheme for passenger EVs focuses on mass-market models. However, some state-level incentives will still apply to the XEV 9S.
National & State EV Incentives
- FAME-II (National): May not directly apply due to battery size (> 30 kWh), but policy revisions in 2026 could expand eligibility.
- Delhi EV Policy: Up to ₹ 10,000 per kWh capped at ₹ 1.5 lakh; full road-tax exemption.
- Maharashtra EV Policy: Incentives up to ₹ 2.5 lakh for private EVs, plus early-bird benefits if extended.
- Karnataka & Tamil Nadu: 100 % road-tax exemption for registered EVs.
Depending on location, buyers could save anywhere between ₹ 75,000 and ₹ 2 lakh on total on-road cost.
5. Financing & EMI Snapshot
Mahindra Finance and partner banks are expected to offer tailored EV-loan packages with competitive rates.
| Variant | Approx. On-Road Cost (Delhi) | Down Payment (15%) | 5-Year EMI (@ 10%) |
|---|---|---|---|
| Base | ₹ 38 lakh | ₹ 5.7 lakh | ₹ 60,000 / month |
| Mid | ₹ 44 lakh | ₹ 6.6 lakh | ₹ 69,000 / month |
| Top | ₹ 50 lakh | ₹ 7.5 lakh | ₹ 78,000 / month |
With low maintenance and zero fuel spend, real-world ownership cost remains competitive even against diesel SUVs.
6. Price vs Rivals — Where the XEV 9S Fits
| Model | Fuel Type | Seats | Range / Mileage | Price (₹ ex-showroom) |
|---|---|---|---|---|
| Mahindra XEV 9S | Electric | 7 | 450–550 km | 35–50 lakh |
| Tata Harrier EV (2025) | Electric | 5 | ~450 km | 28–35 lakh |
| XUV.e8 (2026) | Electric | 7 | ~500 km | 38–45 lakh |
| Hyundai Ioniq 5 | Electric | 5 | 631 km | 46–50 lakh |
| Toyota Fortuner | Diesel | 7 | 12–14 km/l | 35–55 lakh |
The XEV 9S lands right in the sweet spot — premium enough to feel global, yet affordable enough to tempt traditional ICE buyers.
7. What You Get for the Money — Variant Highlights
| Variant | Key Features | Ideal For |
|---|---|---|
| Base (60 kWh) | Dual-screen setup, LED DRLs, basic ADAS, 450 km range | Urban commuters & tech-savvy families |
| Mid (70 kWh) | Panoramic roof, 360° camera, advanced ADAS, 500 km range | Highway tourers & long-range users |
| Top (80 kWh AWD) | AWD, ventilated seats, Level 2 ADAS, 550 km range | Enthusiasts & premium EV buyers |
Each step up offers genuine value, not just cosmetic upgrades — making the mid variant the best balance for most buyers.
8. Real Ownership Cost — The Long-Term View
Compared to diesel SUVs, the XEV 9S saves heavily on fuel and maintenance.
| Category (5-Year Average) | XEV 9S (Electric) | Diesel SUV |
|---|---|---|
| Annual Maintenance | ₹ 10,000 – 12,000 | ₹ 25,000 – 30,000 |
| Annual Energy Cost | ₹ 30,000 – 35,000 | ₹ 1,20,000 – 1,40,000 |
| Total 5-Year Savings | ₹ 3 – 4 lakh | — |
Even with a higher upfront cost, the total ownership experience tilts strongly in favor of the XEV 9S over a 5-year horizon.
9. Comparison with Mahindra XUV.e8 and Tata Harrier EV
| Parameter | Mahindra XEV 9S | Mahindra XUV.e8 | Tata Harrier EV |
|---|---|---|---|
| Platform | INGLO (EV-dedicated) | INGLO (EV-dedicated) | Omega ARC EV |
| Seating | 7 Seater | 7 Seater | 5 Seater |
| Power | 282 PS | ~250 PS | ~210 PS |
| Range | 550 km | 500 km | 450 km |
| Expected Price | 35–50 lakh | 38–45 lakh | 28–35 lakh |
The XEV 9S stands as the flagship in Mahindra’s EV family, blending practicality and performance, while the XUV.e8 serves as its slightly smaller sibling.
10. Final Verdict — Value Beyond Price
The Mahindra XEV 9S proves that electric luxury doesn’t have to come from abroad. It’s big, bold, and intelligently priced — a 7-seater EV that offers everything a modern Indian family could want.
With prices starting around ₹ 35 lakh and topping out near ₹ 50 lakh, it delivers range, refinement, and real value — especially when you factor in the lower cost of ownership.
It’s not just another SUV — it’s Mahindra’s next big leap into India’s all-electric future.
FAQs — Mahindra XEV 9S Price & Variants
Q1. What is the expected price of Mahindra XEV 9S in India?
Between ₹ 35 lakh and ₹ 50 lakh, depending on variant and battery pack.
Q2. When will it launch?
Unveiling on 26–27 November 2025, with India launch expected in early 2026.
Q3. Will there be multiple variants?
Yes — base, mid, and top luxury trims with different battery sizes and drivetrain options.
Q4. What will be the range?
Between 450 km and 550 km, based on variant.
Q5. Are there EV subsidies?
Yes, state incentives may offer up to ₹ 2 lakh savings depending on region.
