Kia India has announced a new Battery-as-a-Service (BaaS) finance program for its electric MPV, the Kia Carens Clavis EV, making EV ownership more affordable for Indian buyers. The financing model allows customers to purchase the vehicle separately from the battery, significantly lowering the upfront cost.
Under the new BaaS plan, the Kia Carens Clavis EV starts at Rs 12.84 lakh (ex-showroom), with a battery subscription charge of Rs 3.3 per kilometre. The company says the initiative encourages electric vehicle adoption in India by offering more flexible and transparent ownership options.
Kia India has partnered with major financial institutions, including ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Bajaj Finserv, to support the dual-loan financing structure. This creates separate loan accounts for the vehicle chassis and the battery pack, giving customers more flexibility in financing and repayment.
The company states buyers can start owning the Carens Clavis EV with finance plans beginning at Rs 51,520, alongside the battery subscription model. Loan tenures can extend up to 60 months for the vehicle body and 96 months for the battery component, helping reduce the financial burden often associated with EV purchases.
The Carens Clavis EV is available with two battery pack options: a 42 kWh unit and a larger 51.4 kWh battery. The smaller battery pack delivers an ARAI-certified range of 404 km, while the extended-range version offers up to 490 km on a single charge. The electric MPV also comes with motor options producing 99 kW and 126 kW, both generating 255 Nm of torque.
Kia’s new pricing structure includes multiple variants. The Standard version is priced at Rs 17.99 lakh ex-showroom, while the Extended variant is priced at Rs 21.99 lakh. However, under the BaaS structure, the effective chassis prices are reduced to Rs 12.84 lakh and Rs 15.94 lakh respectively, excluding the battery subscription costs.
Commenting on the launch, Sunhack Park, Chief Sales Officer at Kia India, said the company’s focus is not just on launching electric vehicles but also on building a complete ecosystem that makes EV adoption practical and customer-friendly. He added that the BaaS model aims to reduce acquisition costs while making advanced EV technology more accessible to Indian consumers.
The launch of the Battery-as-a-Service program reflects a growing trend in India’s EV market, where automakers are looking for new ways to reduce upfront costs and attract more buyers to electric mobility.