Tata Motors Passenger Vehicles has expanded its Battery-as-a-Service (BaaS) programme across its entire electric vehicle line-up, extending the financing option beyond the Tiago.ev and Punch.ev to the Nexon.ev, Curvv.ev, Sierra.ev and Harrier.ev.
Under the programme, introductory acquisition prices for Tata’s EVs fall significantly, with the Tiago.ev starting at Rs 4.69 lakh, Punch.ev at Rs 6.59 lakh, Nexon.ev at Rs 8.99 lakh, Curvv.ev at Rs 10.99 lakh, Sierra.ev at Rs 11.99 lakh and Harrier.ev at Rs 14.49 lakh.
The BaaS structure separates financing for the vehicle and its battery through two independent loan accounts, with separate tenures. This lowers the upfront acquisition cost for customers, while the battery component is paid through a separate monthly instalment.
Tata Motors said battery EMIs are determined by factors including battery pack capacity, down payment terms and loan duration. Charging expenses, maintenance and vehicle repair costs are not included in the battery fee.
The company has also outlined per-kilometre BaaS costs based on estimated daily running. The Punch.ev and Tiago.ev start at Rs 2.6 per km, with the Tiago.ev calculation based on an estimated 44-km daily run. The Punch.ev figure is based on 60 km a day.
The Nexon.ev has a BaaS cost starting at Rs 4.4 per km, followed by the Curvv.ev at Rs 5 per km, Sierra.ev at Rs 5.5 per km and Harrier.ev at Rs 5.9 per km. The latter figures are based on an estimated 60-km daily run.
Vivek Srivatsa, chief commercial officer, Tata Motors Passenger Vehicles, said the company wanted customers evaluating its electric vehicles to have flexibility while comparing ownership costs.
“As BaaS becomes an increasingly visible construct in the EV market, we want to ensure that customers evaluating a TATA.ev have complete flexibility to make a fair and transparent comparison,” he said.
Apart from Tata Motors, JSW MG Motor, Hyundai, Toyota, Mahindra, Maruti Suzuki and Citroen offer Battery-as-a-Service options for select electric vehicle models in India.
