Tata Motors expands BaaS financing across entire EV range

Tata Motors has expanded its Battery-as-a-Service (BaaS) financing model to its entire electric vehicle portfolio in India. Previously limited to the Tiago EV and Punch EV, the program now includes the Nexon EV, Curvv EV, Sierra EV, and Harrier EV.

Under the BaaS scheme, the upfront cost of the vehicle is significantly reduced by separating the battery from the car purchase. Customers finance the vehicle and the battery through two distinct loan accounts. While the initial purchase price drops, users pay a separate usage-based fee per kilometer for the battery.

For example, the Harrier EV's starting price decreases by ₹7.30 lakh under BaaS, while the Nexon EV sees a reduction of ₹5.35 lakh. The Tiago EV offers the lowest entry point at ₹4.69 lakh under the scheme. Customers retain the option to purchase the vehicle and battery together through traditional financing methods.