The ex-showroom price of the standard pack of Kia Carens Clavis EV BaaS is Rs 17.99 lakh, while its down payment starts at Rs 51,520.
Kia India has launched a new Battery-as-a-Service (BaaS) finance program for the Carens Clavis EV. In this scheme, the company has adopted a dual-loan model, under which separate loan accounts will be created for the body (chassis) and battery of the vehicle. The ex-showroom price of the standard battery pack has been kept at Rs 17.99 lakh.
The initial down payment for this starts from Rs 51,520, while the price of the chassis is Rs 12.84 lakh. Its monthly EMI will start from Rs 26,650. The ex-showroom price of the extended battery pack has been fixed at Rs 21.99 lakh. Down payment starts from Rs 60,452, chassis price is Rs 15.94 lakh and EMI starts from Rs 33,099 per month.
The price of battery subscription in both the variants has been kept at Rs 3.3 per kilometer. The loan tenure for the vehicle will be 60 months, while the tenure for the battery has been fixed at 96 months. This program has been supported by ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and Bajaj Finserv.
Long term loans for batteries will help customers keep monthly installments low. Also, with the separate pricing of battery and vehicle, customers will have a clear understanding of what they are paying for which part. For customers traveling short distances, a per kilometer battery charge model may prove to be more beneficial.
The Carens Clavis EV is Kia’s first electric car made in India, scheduled to be launched in 2025. Talking about charging infrastructure, Clavis EV owners get access to more than 15,000 charging points across the country through the K-Charge platform available on the MyKia app. Features like live charger availability, EV route planning and integrated payment are also provided in it.
DC fast chargers have been installed at over 100 Kia dealerships, while over 267 EV-ready workshops are available for service support. The BaaS model has already proven successful in India’s electric two-wheeler segment. Companies like TVS and Hero have used it and now many other brands are also considering adopting this option.
However, this model is still in its initial stages in the passenger vehicle segment. In such a situation, Kia’s entry into this sector with Carens Clavis EV has brought a reliable four-wheeler option for the customers. Amidst the increasing competition in the electric MPV and family SUV segments, this step of Kia is being considered very beneficial for the company.