Kia India has announced a new Battery-as-a-Service (BaaS) finance program for the Carens Clavis EV. With this move, Kia aims to reduce the upfront cost of EV ownership and make electric mobility more accessible to a wider group of buyers in India.
BaaS model separates costs of the battery to the vehicle chassis, allowing customers to finance both components independently. Under this structure, buyers pay for the vehicle body through a standard vehicle loan, while the cost of the battery is covered through a subscription-based usage plan.
Dual loan structure for lower upfront costs
Kia says the new finance program has been introduced to accelerate EV adoption by offering more flexible ownership options. The company has partnered with leading financial institutions including ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and Bajaj Finserv for this initiative.
Under the scheme, the Kia Carens Clavis EV Standard Pack can be purchased with an initial down payment of Rs 51,520. The ex-showroom price of this variant is Rs 17.99 lakh, while the chassis under BaaS structure is priced at Rs 12.84 lakh. EMI starts from Rs 26,650.
For the Extended Range variant, the ex-showroom price is Rs 21.99 lakh, while the planned chassis price is Rs 15.94 lakh. Down payment starts from Rs 60,452, EMI starts from Rs 33,099. The battery subscription price for both the variants has been fixed at Rs 3.3 per km.
flexible tenure options
Kia is offering a flexible finance tenure of up to 60 months for the vehicle body and up to 96 months for the battery component. The company says this approach helps reduce the financial burden while also improving affordability for first-time EV buyers.
According to Kia, the Carens Clavis EV has already received positive response in the Indian market for its practicality, design and feature package. With the BaaS programme, the company now hopes to further expand its EV customer base.
Commenting on the launch, Sanhack Park, Chief Sales Officer, Kia IndiaSaid that the initiative aims to create a more practical and customer-friendly EV ecosystem in India by reducing the initial acquisition cost and increasing financial flexibility.
Kia is expanding the EV ecosystem in India
Along with finance initiatives, Kia also continues to strengthen its EV infrastructure in India. Through the K-Charge platform integrated into the MyKia app, users can Access over 15,000 charging points Across the country. The platform also supports EV route planning, charger availability tracking, and digital payment integration.
Kia said more than 100 dealerships in India are now equipped with DC fast chargers, while more than 267 workshops across the country are EV-ready. The company says that these efforts are aimed at ensuring a seamless ownership experience for EV customers in India.