Kia India Launches Battery-as-a-Service Finance Program for Carens Clavis EV

New Delhi, India, May 13, 2026: Kia India has announced the launch of its new Battery-as-a-Service (BaaS) finance program for the Kia Carens Clavis EV, aimed at making electric vehicle ownership more affordable and accessible for Indian customers.

The announcement was made in New Delhi on May 13, 2026, as Kia India strengthened its focus on accelerating EV adoption through innovative financing solutions and customer-centric ownership models.

The BaaS initiative introduces a dual-loan financing structure, where customers will have separate loan accounts for the vehicle chassis and battery pack. According to Kia India, the structure is designed to provide enhanced transparency, flexibility, and affordability for EV buyers.

The finance program is backed by leading financial institutions including ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Bajaj Finserv.

Under the new financing model, ownership of the Kia Carens Clavis EV starts with a down payment of INR 51,520, while the battery usage cost is structured at INR 3.3 per kilometer. Kia said the program is intended to reduce the high upfront acquisition costs often associated with electric vehicles.

The financing package offers repayment tenure options of up to 60 months for the vehicle body and up to 96 months for the battery component, helping customers manage costs more efficiently over a longer period.

Commenting on the launch, Sunhack Park said the company’s sustainability vision goes beyond simply introducing electric vehicles.

“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,” he said. “The Battery-as-a-Service model is a strategic step in that direction, enabling customers to experience advanced EV technology with reduced upfront acquisition costs and greater financial flexibility.”

Kia India launched the Carens Clavis EV in 2025 as its first made-in-India electric vehicle. The model has received strong customer response for its design, technology features, practicality, and overall ownership proposition, according to the automaker.

The Indian electric vehicle market continues to witness rapid growth, supported by government incentives, improving charging infrastructure, and increasing consumer interest in sustainable mobility solutions. With the introduction of the BaaS finance model, Kia India aims to further strengthen its position in the country’s evolving EV segment.