Key highlights
- Nexon.ev now available with Tata.ev’s Battery-as-a-Service (BaaS) plan
- BaaS vehicle price starts at Rs 8.99 lakh, compared with Rs 14.34 lakh for the regular model
- Battery financing cost is Rs 4.4 per km, based on 60km daily usage
Tata.ev has extended its Battery-as-a-Service (BaaS) financing option to the Nexon.ev, allowing customers to purchase the electric SUV with the battery cost separated from the vehicle’s upfront price. The Nexon.ev becomes part of Tata.ev’s wider BaaS portfolio alongside the Tiago.ev, Punch.ev, Curvv.ev, Sierra.ev and Harrier.ev.
Upfront cost by Rs 5.35 lakh
The Nexon.ev 45, with its 45 kWh battery, has a starting regular price of Rs 14.34 lakh. Under the BaaS plan, the starting vehicle price drops to Rs 8.99 lakh, reducing the initial acquisition cost by Rs 5.35 lakh.
The battery cost is financed separately, with Tata.ev listing a battery financing and usage cost of Rs 4.4 per km. The quoted BaaS price applies to the entry trim and assumes vehicle usage of 60km per day. Charging costs are not included.
How Nexon.ev BaaS works
Under the BaaS structure, the vehicle and battery are financed through separate loan accounts. Customers can choose flexible loan tenures, while the battery EMI varies depending on the battery size, down payment and tenure.
Importantly, the battery EMI does not include charging, maintenance, repairs or other associated ownership costs. Tata.ev has partnered with multiple financiers for the BaaS programme, with the facility subject to financier approval.
Customers can also continue to purchase the Nexon.ev outright, including its battery. The BaaS option is an additional financing route rather than a replacement for conventional ownership.
The company says customers opting for BaaS receive the same vehicle technology and ownership support as customers purchasing the EV conventionally.
Final thoughts
The BaaS structure significantly lowers the upfront price of the Nexon.ev, but buyers need to factor in the separate battery financing cost and charging expenses when calculating the overall ownership cost. For customers looking to reduce the initial purchase outlay, the Rs 8.99 lakh entry price puts the Nexon.ev in a very different price bracket.
Also read: Suzuki confirms plug-in range-extender hybrid for compact cars
 financing option to the Nexon.ev, allowing customers to purchase the electric SUV with the battery cost separated from the vehicle's upfront price.){kind=link}