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2 clusters · 13 sources · 5 days · First seen · Last updated

Expansion of EV Battery-as-a-Service in India

Overview

In India, automotive manufacturers are increasingly adopting Battery-as-a-Service (BaaS) financing models to lower the upfront purchase costs of electric vehicles. This model separates the cost of the battery from the vehicle, allowing customers to finance the car and battery through distinct accounts and pay a usage-based fee per kilometer.

Initially, Tata Motors expanded its BaaS program from the Tiago EV and Punch EV to include its entire electric portfolio, such as the Nexon EV, Curvv EV, Sierra EV, and Harrier EV. Under this scheme, the starting price of a Harrier EV decreases by ₹7.30 lakh.

Following Tata Motors, other manufacturers have also implemented similar models. Hyundai offers a BaaS price of ₹10.99 lakh for the Creta Electric, representing an upfront reduction of ₹7.04 lakh. Maruti Suzuki’s e Vitara and the MG Comet EV also utilize rental-based battery models. While these arrangements significantly reduce initial acquisition costs, total ownership expenses remain dependent on the distance driven due to ongoing per-kilometer rental or financing fees.

Entities

Tata.ev · AMPSTAR · Chhatrapati Sambhajinagar · Maruti Suzuki · India

Timeline

  1. [BUSINESS] 3 sources
    Tata.ev and others expand Battery-as-a-Service for electric vehicles

    Automakers like Tata.ev, Hyundai, and Maruti Suzuki are using Battery-as-a-Service models to lower upfront electric vehicle prices in India by separating battery costs from the vehicle purchase.

  2. [BUSINESS] 11 sources
    Tata Motors expands BaaS financing across entire EV range

    Tata Motors has extended its Battery-as-a-Service (BaaS) financing to its full EV lineup in India, lowering upfront vehicle costs by separating battery payments from the car purchase.

Sources

autopunditz.com · evtechnews.in · gayot.com · hindi.news18.com · indianweb2.com · m.businesstoday.in · motoroids.com · namastecar.com · navbharatlive.com · news9live.com · prabhatkhabar.com · rushlane.com · timesnownews.com