Tata Motors electric vehicles may soon be 30% cheaper. According to a Money Control report, the company is preparing to launch a battery rental program similar to MG Motor India.
In this, the cost of the battery is not included in the price of the electric vehicle but is given on rent. This business model is called 'Battery-as-a-Service (BaaS)'.
Electric cars can be cheaper by 2 to 3.5 lakh rupees According to industry experts, with the BaaS scheme, the price of Tata's electric vehicles will be Rs. 2-3.5 lakhs (excluding battery) may be reduced. Tata Motors electric portfolio includes Tiago EV, Tigor. EV Panch. EV, Nexon.EV and Curve.EV included.
According to the report, the company hopes to strengthen its presence in the market through this model. Battery facility on rent will reduce the ex-showroom price of the vehicle by 25% to 30% for customers.
Planning is still on the drawing board According to the report, 'There is a strong possibility that Tata Motors will offer BaaS facility, as consumers are looking for cheaper EV options. Its potential customers are willing to pay battery rent on a monthly basis, which is economical to run the car. However, the company's plans are still on the drawing board and any final decision will be taken only after the pilot run.
JSW MG Motors was the first to launch the BAAS scheme This battery rental program was first launched in India by JSW MG Motor India with the Windsor EV. Its price ranges from Rs 13,49,800 to Rs 15,49,800. Including BaaS (Rs. 3.50/km) it costs Rs. 9.99 lakhs (ex-showroom).
Later, the company also implemented it in Comet EV (starting price Rs. 4.99 lakh + battery charge Rs. 2.5/km) and ZS EV (starting price Rs. 13.99 lakh + battery charge Rs. 4.5/km).
What is a battery as a service program? Battery as a Service (BAAS) is a battery rental program. Under this, the cost of the battery pack is not included in the purchase price of the electric car. Instead, you are charged according to battery usage.
That is, the cost of the battery is charged as a rental fee based on the number of kilometers you drive, where you have to pay it as an EMI every month, but you have to pay separately for charging the battery.
MG offers a lifetime warranty for the first owner of the car (first owner), 60% buyback after three years and one year of free charging at public chargers using the eHUB through the MG app.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
