Key highlights
- Sierra.ev now gets Tata.ev’s Battery-as-a-Service (BaaS) option
- Starting vehicle price drops to Rs 11.99 lakh from Rs 18.79 lakh
- Battery financing and usage cost is Rs 5.5 per km for the 63 kWh version
Tata.ev has extended its Battery-as-a-Service (BaaS) financing option to the Sierra.ev, giving buyers the choice of paying separately for the vehicle and its battery. The Sierra.ev is the latest addition to the programme, which now covers Tata.ev’s complete electric vehicle portfolio.
Sierra.ev gets a Rs 6.8 lakh lower entry price
The 63 kWh Sierra.ev has a regular starting price of Rs 18.79 lakh. Under the BaaS structure, the starting vehicle price comes down to Rs 11.99 lakh, a reduction of Rs 6.80 lakh in the upfront vehicle cost.
The battery is financed separately, with Tata.ev quoting a Rs 5.5 per km battery financing and usage cost. The announced BaaS price is based on 60 km of daily usage and applies to the entry trim. Charging expenses are not included in this amount.
For context, the Sierra.ev is also available with larger battery options. Tata.ev’s current specifications list 63 kWh and 75 kWh versions, with the latter offering up to 665km of MIDC range.
How Sierra.ev BaaS works
The BaaS structure separates the cost of the battery from the vehicle purchase. Customers take separate loan accounts for the vehicle and battery, with the battery EMI varying according to factors such as battery capacity, down payment and loan tenure.
The Rs 5.5 per km figure should not be treated as the Sierra.ev’s running cost. Charging, maintenance, repairs and other associated expenses are excluded from the battery financing component. Tata.ev has also partnered with multiple financiers for the programme, with approval and applicable terms determined by the financier.
Buyers can still purchase the Sierra.ev conventionally with the battery included. BaaS is an additional financing route and does not alter the vehicle, its technology or ownership support.
The BaaS pricing is applicable to personal users, with road tax, insurance, TCS and other statutory levies excluded.
Also read: Tata Nexon.ev BaaS price starts at Rs 8.99 lakh, battery cost Rs 4.4 per km
