TATA.ev, India’s number one electric four-wheeler manufacturer, today announced the expansion of its battery-as-a-service (BaaS) offering across its entire electric vehicle portfolio. The move provides customers with an additional, flexible way to finance their electric vehicles.
TATA.ev had earlier introduced BaaS for its entry-level Tiago.ev and Punch.ev. Now, the company is expanding the product to Nexon.ev, Curvv.ev, Sierra.ev, and Harrier.ev, making it available across the entire family.
Mr. Vivek Srivatsa, Chief Commercial Officer, said that as the acceptance and demand for electric vehicles grows exponentially, customers want more choices, not only in terms of the electric vehicles they buy, but also in how they finance them. He said that as BaaS becomes an increasingly obvious choice in the electric vehicle market, the company hopes that customers evaluating TATA.ev will be able to make a fair and transparent comparison. Customers can still purchase electric vehicles outright, including batteries, or opt for BaaS and reduce upfront costs. The goal, he added, is simple: give customers the freedom to choose what works best for them and make it easier to switch to electric.
Under BaaS, the cost of the battery is separate from the upfront vehicle price and financed on its own, which lowers the initial cost of purchasing an electric vehicle. Vehicle and battery are financed through separate loan accounts with flexible terms. Battery EMI varies with battery size, down payment and age, and does not include charging, maintenance, repairs and other costs. TATA.ev partners with several financial institutions to provide customers with more options. Customers who choose BaaS receive the same product experience, technology and ownership support.
Tiago.ev comes with a 19 kWh battery and is priced starting at Rs 6.99 lakh, going up to Rs 4.69 lakh on BaaS, with the battery costing Rs 2.6 per km. Punch.ev comes with a 30 kWh battery and is priced starting at Rs 9.79 lakh, with BaaS priced at Rs 6.59 lakh, again at Rs 2.6 per km. Nexon.ev comes with a 45 kWh battery and is priced starting at Rs 14.34 lakh, with BaaS price starting at Rs 8.99 lakh at Rs 4.4 per km.
Curvv.ev comes with a 55 kWh battery and is priced starting at Rs 17.19 Lakh, with BaaS available at Rs 10.99 Lakh at Rs 5 per km. The Sierra.ev comes with a 63 kWh battery and is priced starting at Rs 18.79 lakh with BaaS at Rs 11.99 lakh at Rs 5.5 per km. Harrier.ev comes with a 65 kWh battery and is priced starting at Rs 21.79 lakh, with BaaS starting at Rs 14.49 lakh at Rs 5.9 per km.