Kia Carens Clavis EV: BaaS Program Details

Kia India has taken a significant step towards making electric vehicles (EVs) more accessible to the masses with the launch of its Battery-as-a-Service (BaaS) finance program. This innovative scheme is specifically designed for the Kia Carens Clavis EV—Kia's first made-in-India electric model—and aims to lower the financial barriers to EV adoption across the nation.

The BaaS program is a part of Kia's broader strategy to accelerate the adoption of sustainable mobility solutions in line with the Indian government's push for electric vehicles. By offering a flexible financing model, Kia India is hoping to make EV ownership more affordable and appealing to a wider audience. The program introduces a dual-loan structure that separates the financing of the vehicle's chassis from its battery, providing customers with increased transparency and flexibility.

Flexible Financing Options

Under this novel scheme, prospective Kia Carens Clavis EV owners can start their ownership journey with an EMI as low as INR 51,520. The BaaS model also includes a battery subscription priced at INR 3.3 per kilometer, which aims to alleviate the financial burden typically associated with EV batteries. This dual-loan approach ensures that the upfront costs are minimized, promoting a more customer-centric and cost-effective ownership experience.

Chassis Price: INR 12.84 lakh (Standard pack)
EMI Starts: INR 26,650
Battery Subscription: INR 3.3 per km

The financing structure is further enhanced by the involvement of leading financial institutions such as ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Bajaj Finserv. These partnerships ensure that customers have access to a range of financing options tailored to their needs.

Tenure and Payment Plans

One of the standout features of the BaaS program is the flexibility it offers in terms of payment tenure. Customers can choose a tenure of up to 60 months for the vehicle body and up to 96 months for the battery component. This extended payment period helps in reducing the monthly financial outlay, making the transition to electric mobility more feasible for many.

Standard Pack: Ex. Showroom Price at INR 1,799,000
Extended Pack: Ex. Showroom Price at INR 2,199,000
Down Payment Starts: INR 51,520 (Standard), INR 60,452 (Extended)

Comprehensive EV Ecosystem

Beyond financing, Kia India is committed to bolstering its EV ecosystem to support this transition. The MyKia app's K-Charge platform provides access to over 15,000 charging points nationwide. This includes features like EV route planning, live charger availability, and streamlined payment options, ensuring that Kia EV owners are never far from a charging point.

Moreover, Kia has equipped more than 100 dealerships with DC fast chargers and established over 267 EV-ready workshops across the country. These initiatives are crucial in building the necessary infrastructure to support the growing number of EVs on Indian roads.

"At Kia India, sustainability is not limited to introducing electric vehicles, but about creating a complete ecosystem that makes EV adoption easier and more practical for customers."
Sunhack Park, Chief Sales Officer, Kia India

Kia India's BaaS finance program for the Carens Clavis EV is a strategic move to democratize electric vehicle ownership by addressing one of the most significant barriers: cost. Through flexible financing and a robust charging network, Kia is not only encouraging current adoption but also laying the groundwork for a sustainable EV future in India.