TATA.ev, India’s #1 EV 4-wheeler OEM, today announced the extension of its Battery-as-a-Service (BaaS)* offering across its entire electric vehicle portfolio, providing customers with an additional and flexible way to finance their EV.
Having introduced BaaS* for its entry-level EVs, Tiago.ev and Punch.ev, TATA.ev is now extending the offering to Nexon.ev, Curvv.ev, Sierra.ev and Harrier.ev, making BaaS available across its entire EV portfolio and giving customers, greater choice and flexibility in how they finance their EV.
Commenting about this, Mr. Vivek Srivatsa, Chief Commercial Officer, said: “With the EV acceptance and demand growing many fold in the country, Customers demand choices than ever before, not just in the EVs they buy, but also in how they choose to finance them. 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. Extending BaaS* across our portfolio gives them precisely that choice. Customers can continue to buy their EV outright, including the battery, or opt for BaaS* and lower their upfront acquisition cost. Ultimately, our endeavour is simple: give customers the freedom to choose the solution that works best for them and make the transition to electric easier.”
Under BaaS*, the cost of the battery is separated from the upfront vehicle acquisition price and financed independently, lowering the initial cost of acquiring an EV. The vehicle and battery are financed through separate loan accounts with flexible tenures, with the battery EMI varying based on battery size, down payment and tenure. Battery EMI excludes charging, maintenance, repairs and other associated costs. TATA.ev has partnered with multiple financiers to provide customers greater choice and flexibility in accessing BaaS*.
Customers opting for BaaS* will enjoy the same TATA.ev product experience, technology and ownership support, with BaaS* simply providing an additional convenient and financing route to access the vehicle.
