Tata’s electric vehicles may soon become cheaper by 30%. The company is preparing to launch a battery rental program like MG Motor India.
Tata’s Electric Vehicles can be cheaper by Rs 2 to 3.5 lakh
According to industry experts, with the BaaS scheme, the prices of Tata’s electric vehicles may drop by Rs 2-3.5 lakh (except for batteries). Tata Motors’ electric portfolio includes Tiago.EV, Tiago.EV, Punch.EV, Nexon.EV and Curve. EV.
The company hopes that it can further strengthen its presence in the market through this model. The facility for the battery-on-rent will reduce the ex-showroom price of the vehicle by 25% to 30% for the customers.
Planning still on the drawing board
There is a strong possibility that Tata’s Electric Vehicles will provide a BaaS facility, as customers are looking for cheaper EV options. Its potential customers are ready to pay the rent for the battery, which is economical to run the car. The company is still planning on the drawing board and will decide on a pilot run.
JSW MG Motors was the first to launch the BAAS scheme
JSW MG Motor India with Windsor EV launched this battery rental program in India. Its price ranges from Rs 13,49,800 to Rs 15,49,800. The customers can purchase it 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 Rs 4.5/km).
Tata’s Electric Vehicles BAAS Program?
Battery as a Service (BAAS) is a battery rental program. The price of the battery pack is excluded, and the customers pay according to battery usage.
That is, the battery’s cost is recovered as a rental fee according to the number of KMs you drive, and you will have to pay it as EMI every month, but you will have to pay for charging the battery, separately.
MG offers a lifetime warranty for the first owner of the car, 60% buyback after three years and one year of free charging at public chargers using eHUB through the MG app.
