Under the new dual‑loan scheme, the battery and car are financed separately, letting Tata keep the sticker price low without skimping on features. The battery loan runs its own term, so the vehicle’s price stays at ₹4.69 lakh for the Tiago.eV, ₹6.59 lakh for the Punch.eV, ₹8.99 lakh for the Nexon.eV, ₹10.99 lakh for the Curvv.eV, ₹11.99 lakh for the Sierra.eV, and ₹14.49 lakh for the Harrier.eV.
Per‑kilometre costs, calculated on a 60‑km daily run, start at ₹2.6 per km for the Punch.eV, ₹4.4 for the Nexon.eV, ₹5 for the Curvv.eV, ₹5.5 for the Sierra.eV, and ₹5.9 for the Harrier.eV. The Tiago.eV’s cheaper rate of ₹2.6 per km applies to a 44‑km daily run. These numbers mean the total cost of ownership can be more predictable than a traditional loan, especially for commuters.
How does this stack up against the competition? Hyundai’s Kona Electric starts at ₹15.79 lakh, MG ZS EV at ₹14.99 lakh, and Tata’s own Nexon.eV, before BaaS, was priced at ₹13.99 lakh. With BaaS, the Nexon.eV becomes the cheapest option in its class, and the Curvv.eV edges out the ZS EV by a few lakh. The battery‑lease model also matches the emerging Indian trend of reducing upfront costs for EVs, something that rivals are only now starting to emulate.
Policy‑wise, the expansion aligns with the National Electric Mobility Mission Plan’s push for battery leasing to cut import duties. By keeping battery costs separate, Tata sidesteps the 15% duty on EV batteries, which can be passed on to the customer. This makes the BaaS model attractive for buyers wary of the hidden cost of battery wear.
The rollout will begin at Tata’s flagship showrooms in Mumbai and Delhi in August, with other metros following in September. Buyers can pre‑book the BaaS‑enabled models online, and the first deliveries are expected by the end of October.
Looking ahead, Tata plans to extend BaaS to its upcoming EVs, including the planned electric version of the Harrier and potential new SUVs. Keep an eye on battery pack capacity upgrades, as a larger pack could reduce the per‑km fee further, keeping Tata ahead in the price‑performance war.