NEW DELHI: Electric cars still cost more upfront than their petrol equivalents, and that gap is the main reason many families hesitate. Several carmakers now offer a way around it called Battery as a Service, or BaaS, where you pay for the car without the battery and then pay for the battery separately, based on how much you drive. With the festive season under way and Diwali on 8 November, here is a plain explanation of how it works and what four popular EVs cost under this model, using only figures published by the companies themselves.
All prices below are ex-showroom and are taken from each company's official website or launch announcement, checked on 5 October 2026, 2:45 AM IST. On-road prices will be higher once registration, insurance and other charges are added. These schemes are offered through finance partners and need loan approval, so always confirm the current terms at the dealership.
How Battery as a Service works
The battery is the single most expensive part of an electric car. Under BaaS, the showroom price you pay covers the car minus the battery. The battery is then financed separately and you repay it through a per-kilometre charge, usually collected as a monthly EMI based on an assumed daily distance.
It is important to understand what this is not. It is not a pay-as-you-go rental where you pay nothing if the car is parked. Mahindra, for example, describes its plan as a dual-loan finance product, and Tata.ev also calls its BaaS a dual-loan product subject to financier approval. In practice, you take one loan for the car and one for the battery.
The per-kilometre figures quoted by companies also exclude your charging cost. You still pay for the electricity you use at home or at a public charger.
Tata Punch.ev: Rs 6.49 lakh plus Rs 2.6 per km
Tata.ev launched the new Punch.ev on 20 June 2026 at an introductory price of Rs 9.69 lakh ex-showroom Mumbai. Under BaaS, the starting price drops to Rs 6.49 lakh, with a battery EMI of Rs 2.6 per km.
The company's fine print says this figure applies to the Smart 30 kWh version and assumes usage of 60 km per day, excluding charging cost. It is for personal buyers only. The Punch.ev is also available with a 40 kWh pack, which Tata says has an ARAI certified range of 468 km and a real-world range of about 355 km. The company offers a lifetime battery warranty covering unlimited kilometres on the HV battery.
Kia Syros EV: Rs 7.99 lakh plus Rs 3.3 per km
Kia's official Syros EV page lists the car from Rs 13,49,900 ex-showroom, with variants going up to Rs 19,99,900. Under BaaS, Kia lists a starting price of Rs 7.99 lakh plus Rs 3.3 per km.
Kia quotes a certified range of 526 km. The page also mentions a 3-year assured buyback with an additional 10% introductory benefit, and a 15-year, unlimited-kilometre battery warranty for first owners. As with any introductory offer, check whether it still applies on the day you book.
Hyundai Creta Electric: Rs 10.99 lakh plus Rs 3.9 per km
Hyundai introduced BaaS for the Creta Electric on 2 July 2026. The starting price under the scheme is Rs 10.99 lakh ex-showroom, with a battery EMI from Rs 3.9 per km.
Alongside BaaS, Hyundai added an integrated side foot step to the Creta Electric and now offers a 7.4 kW wall box charger with the Home Charger variants. Tarun Garg, MD and CEO of Hyundai Motor India, said the scheme was meant to reduce the initial cost of buying an EV by offering flexible battery rental plans.
Mahindra BE 6 SPORTEQ: Rs 11.45 lakh plus Rs 3.75 per km
Mahindra's BE 6 SPORTEQ series, announced in August 2026, starts at Rs 11.45 lakh under BaaS with the battery at Rs 3.75 per km. Mahindra says this per-km figure assumes 60 km of driving a day. A Mahindra press note dated 28 August adds that the battery EMI starts at Rs 6,975, that BaaS is now available across all BE 6 SPORTEQ variants, and that the scheme has been extended to the XEV 9S from Rs 12.65 lakh and the XEV 9e from Rs 13.90 lakh, both at the same Rs 3.75 per km. The note says the plan is not a pay-per-use programme.
The BE 6 SPORTEQ also brings a three-screen cockpit and new software features, and sits above the Punch.ev, Syros EV and Creta Electric in price.
How to work out if BaaS suits you
The simple test is distance. Because the battery charge is calculated per kilometre, BaaS is easier on the wallet if you drive a moderate amount each month. If you drive a lot, the per-kilometre battery payment adds up and the total can end up higher than buying the car outright with the battery included.
Here is a rough way to think about it. Take the per-km rate and multiply it by your typical monthly distance. At 60 km a day, which is the figure Tata and Mahindra use, a month of 30 days comes to 1,800 km. At Rs 2.6 per km that is Rs 4,680 a month for the battery. At Rs 3.9 per km it is Rs 7,020. This is only an illustration based on the published rates. Your actual EMI will depend on the finance partner, tenure, interest rate and minimum usage terms.
Then add the EMI on the car loan itself and your charging cost, and compare that monthly total with a regular loan on the full price. Ask the dealer for both options on paper.
Questions to ask before signing
What is the minimum monthly distance I will be billed for, even if I drive less? What happens to the battery loan if I sell the car? Is there a buyback, and on what terms? Does the battery warranty change under BaaS? Is the per-km rate fixed for the whole loan or can it change?
Get the answers in writing. BaaS can make an EV more affordable at the start, but only a full comparison of total cost over the years you plan to keep the car will show whether it is the cheaper route for you.
For more on the festive car market, see our report on Mahindra's September sales and its electric SUV milestone, and Kia India's festive benefits. Two-wheeler buyers can read about Ola Electric's S1 3rd Gen and S1 Z.
Official sources: Tata.ev Punch.ev release, Kia Syros EV page, Hyundai Creta Electric BaaS release and Mahindra BE 6 SPORTEQ release and Mahindra BaaS expansion note.
