Following a wave of carmakers trying to democratise electric mobility in the Indian market, Kia India has also officially introduced a Battery-as-a-Service (BaaS) financing model for its localised electric model, the Carens Clavis EV.
However, Kia has differentiated their approach by creating a dual-loan sort of structure, where the vehicle is essentially part of two separate loans: one for the chassis and the other for the battery under the BaaS model.
The initiative directly addresses the primary hurdle of EV adoption: acquisition cost. Under this new financial umbrella, buyers can essentially pay a subscription fee for the battery usage based on the actual distance driven.
Kia Carens Clavis EV BaaS Program: Breaking Down the Dual-Loan Structure
Kia is working with financial lenders, including ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Bajaj Finserv, to offer the dual-loan structure.
Instead of a single lump-sum auto loan, customers can finance the vehicle’s body (chassis) for a tenure of up to 60 months, while the battery component can be financed on a separate, longer tenure of up to 96 months. For daily running, the battery subscription fee is pegged at a highly competitive Rs 3.30 per kilometre.
Here is a detailed breakdown of how the BaaS program impacts the final pricing structure for the buyer:
| Variant | Regular Ex-Showroom Price | Ex-Showroom Price With Baas | BaaS Per Km Price | Minimum Down Payment (Chassis) | Car EMI Starts From | Loan Tenure |
| 42 kWh | Rs 17.99 Lakh | Rs 12.84 Lakh | Rs 3.30 | Rs 51,520 | Rs 26,650 | Chassis: 5-year; Battery: 8-year |
| 51.4 kWh | Rs 21.99 Lakh | Rs 15.94 Lakh | Rs 3.30 | Rs 60,452 | Rs 33,099 | Chassis: 5-year; Battery: 8-year |
By opting for the BaaS model, the entry-level acquisition price of the Carens Clavis EV drops by a massive Rs 5.15 lakh, placing its upfront cost directly in the territory of compact internal combustion engine (ICE) SUVs.
Kia Carens Clavis EV: Powertrain, Range, and Performance
The Baas disruptive pricing further helps the Carens Clavis EV’s already-proven credentials for a sensible electric vehicle choice for family buyers.
As Kia’s first made-in-India EV, it arrives in two different battery configurations:
- Standard Range (42 kWh): The entry-level battery variant of the Clavis EV works well for city limits, as it has a rated range of 404 km and a peak motor output of 99 kW.
- Extended Range (51.4 kWh): If you frequently travel with a full load, this is a more suitable configuration with a slightly larger battery pack offering a claimed range of 490 kWh. Meanwhile, peak power output is also boosted to 126 kW.
Regardless of the battery size chosen, both variants output a peak torque of 255 Nm, ensuring the instantaneous acceleration characteristic of modern EVs.
