Mumbai, May 13 -- Kia India, one of the leading passenger vehicle manufacturers, has announced the launch of its Battery-as-a-Service (BaaS) finance program for its first 'Made-in-India' electric vehicle - the Carens Clavis EV.

Through a dual-loan structure supported by major financiers - including ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and Bajaj Finserv - customers can now finance the vehicle chassis and the battery through separate accounts.

The BaaS model reduces the upfront 'sticker price' of the Carens Clavis EV by over INR 500,000, replacing the battery cost with a usage-based rental fee.

Model Variant

Full Ex-Showroom Price

Chassis Price (with BaaS)

Down Payment Starts

Monthly EMI (Chassis)

Battery Rental Fee...