Kia India on Tuesday launched a Battery-as-a-Service (BaaS) finance programme for the Kia Carens Clavis EV, aimed at reducing the upfront cost of electric vehicle ownership through a dual-loan financing structure.
The programme allows customers to finance the vehicle body and battery separately, with monthly ownership costs starting at Rs 51,520 and battery subscription charges fixed at Rs 3.3 per kilometre, the company said.
The financing scheme is being offered in partnership with lenders including ICICI Bank, HDFC Bank, Axis Bank, Bajaj Finance and Kotak Mahindra Prime.
Under the structure, separate loan accounts will be created for the chassis and battery. Kia India said the model is intended to improve affordability and provide customers with greater flexibility in EV ownership.
The company said tenure options under the scheme extend up to 60 months for the vehicle body and up to 96 months for the battery component.
For the standard variant of the Carens Clavis EV, which is priced at Rs 17.99 lakh (ex-showroom), the chassis loan amount is Rs 12.84 lakh, with EMIs starting at Rs 26,650. The extended variant, priced at Rs 21.99 lakh (ex-showroom), has a chassis loan value of Rs 15.94 lakh and EMIs starting at Rs 33,099.
Commenting on the launch, Sunhack Park, Chief Sales Officer at Kia India, said the BaaS model is aimed at lowering acquisition costs and improving financial flexibility for EV buyers.
Kia India said the Carens Clavis EV, introduced in 2025 as its first made-in-India electric vehicle, has seen demand driven by its design, technology and practicality.
The automaker said it is continuing to expand its EV ecosystem through its K-Charge platform on the MyKia app, which provides access to more than 15,000 charging points across India. The platform also offers route planning, charger availability information and payment integration.
According to the company, over 100 Kia dealerships in India are equipped with DC fast chargers, while more than 267 workshops are EV-ready.
Kia Corporation entered India in 2017 and operates a manufacturing facility in Anantapur, Andhra Pradesh, with an annual installed production capacity of 300,000 units. The company said it has dispatched nearly 1.5 million vehicles from the plant to date.