Tata Motors recently launched the first Tata Curve electric coupe SUV in India.
Tata Motors’ electric vehicles could soon become 30% cheaper. According to the Money Control report, the company is gearing up to launch a battery leasing program like MG Motor India.
In this way, the cost of the battery is not included in the price of the electric vehicle and is paid back into the rent. This business model is called “Battery-as-a-Service (BaaS)”.
Electric cars can be cheaper by Rs 2-3.5 lakh According to industry experts, with the BaaS program, prices of Tata’s electric vehicles could come down by Rs 2-3.5 lakh (except battery). Tata Motors’ electric portfolio includes Tiago.EV, Tiago.EV, Punch.EV, Nexon.EV and Curve.EV.
According to the report, the company hopes to further strengthen its market presence through this model. Rental battery installation will reduce the ex-showroom price of the vehicle by 25-30% for customers.
Planning is still on the drawing board According to the report, “There is a strong possibility that Tata Motors will provide BaaS facilities as customers look for cheaper electric vehicle options. » Its potential customers are willing to pay the battery rent on a monthly basis, which is economical to run the car. However, planning for the business is still in draft form and any final decision in this regard will only be made after a pilot test.
JSW MG Motors was the first to launch the BAAS program This battery leasing program was first launched in India by JSW MG Motor India with Windsor EV. Its price ranges from Rs 13,49,800 to Rs 15,49,800. It can be purchased for Rs 9.99 lakh (ex-showroom) with BaaS (Rs 3.50/km).
Later, the company also implemented it in Comet EV (starting price Rs 4.99 lakh + battery rental Rs 2.5/km) and ZS EV (starting price Rs 13.99 lakh + battery rental battery Rs 4.5/km).
What is the Battery as a Service program? Battery as a Service (BAAS) is a battery rental program. In this context, the cost of the battery is not included in the purchase price of an electric car. Instead, you are charged based on battery usage.
That is, the cost of the battery is recovered as a rental fee based on the number of kilometers covered, where you will have to pay it in EMI every month, but you will have to pay separately for charging the battery.
MG offers a lifetime warranty to the first owner of the car, a 60% buyback after three years and one year of free charging on public chargers using eHUB via the MG app.