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Kia India has launched a Battery-as-a-Service (BaaS) finance program for its first ‘Made-in-India’ electric vehicle, the Kia Carens Clavis EV, aimed at making electric vehicle ownership more affordable and accessible in India.
The company said the initiative is designed to accelerate EV adoption by offering customers greater financial flexibility through separate financing for the vehicle chassis and battery, along with reduced upfront ownership costs. Under the program, ownership of the Carens Clavis EV starts at an initial cost of ₹51,520, along with a battery repayment model of ₹3.3 per kilometre.
The BaaS scheme is supported by leading financial institutions including ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Bajaj Finserv.
Sunhack Park, Chief Sales Officer at Kia India, said, “Sustainability for us goes beyond launching electric vehicles; it is about building a complete ecosystem that makes EV adoption easier and more practical for customers. The Battery-as-a-Service model is a strategic step in that direction, enabling lower upfront costs and greater financial flexibility aligned with our vision for smart and sustainable mobility in India.”
The financing structure offers tenure options of up to 60 months for the vehicle body and up to 96 months for the battery component. Additionally, Kia India has strengthened its EV ecosystem through its K-Charge platform on the MyKia app, providing access to over 15,000 charging points across India, along with 100+ DC fast-charging dealerships and 267 EV-ready workshops.
