Kia India has launched a new Battery-as-a-Service (BaaS) finance programme for its first made-in-India electric vehicle, the Kia Carens Clavis EV, as the automaker looks to accelerate electric vehicle adoption in the country through lower upfront ownership costs and flexible financing options.
The move comes amid rising momentum in India’s EV market, driven by supportive government policies, expanding charging infrastructure and increasing consumer interest in sustainable mobility solutions.
Flexible financing
Under the newly introduced BaaS model, customers can finance the vehicle chassis and battery separately through a dual-loan structure, offering greater flexibility and transparency in EV ownership.
The financing programme is being supported by leading lenders including ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and Bajaj Finserv.
Lower entry cost
With the new structure, ownership of the Carens Clavis EV starts at a down payment of ₹51,520 for the standard variant, along with a battery usage repayment charge of ₹3.3 per kilometre.
The standard pack is priced at ₹17.99 lakh (ex-showroom), while the extended pack is priced at ₹21.99 lakh (ex-showroom). Customers can avail repayment tenures of up to 60 months for the vehicle body and up to 96 months for the battery component, easing the financial burden associated with EV purchases.
Company outlook
Kia India Chief Sales Officer Sunhack Park said the company’s sustainability approach goes beyond introducing electric vehicles and focuses on creating an ecosystem that makes EV adoption easier and more practical for customers.
He added that the Battery-as-a-Service initiative aligns with Kia India’s long-term vision of building a smarter and more sustainable mobility ecosystem in India while reducing upfront acquisition costs for buyers.
Charging ecosystem
Kia India has also been strengthening its EV infrastructure and ownership ecosystem across the country to support growing electric mobility demand.
Through its K-Charge platform integrated into the MyKia app, users can access more than 15,000 charging points nationwide, along with features such as live charger availability, EV route planning and digital payment support.
Service readiness
The automaker said more than 100 Kia dealerships are now equipped with DC fast chargers, while over 267 workshops across India have been made EV-ready to support servicing and maintenance requirements.
The introduction of the BaaS model is expected to intensify competition in India’s fast-growing EV segment, where automakers are increasingly focusing on affordability, financing innovation and charging convenience to attract mainstream consumers.