Hyundai Creta Electric— Hyundai Motor India Limited has launched the much-awaited Battery-as-a-Service (BaaS) ownership model for its premium SUV Creta Electric. With the advent of this new option, the biggest hurdle of starting price of electric vehicles in the Indian auto market has been removed. Now customers will be able to take home the Hyundai Creta Electric at a starting price of just Rs 10.99 lakh (ex-showroom). In this model, customers will not have to pay the full price of the battery at once while purchasing the vehicle, rather they will be able to rent it.

Hyundai Creta Electric now for just Rs 10.99 lakh: Company launches new BaaS model, know the complete mathematics of battery rent

What is Hyundai’s BaaS model and how will the battery EMI work?

This new step of Hyundai has brought a big relief to those customers who were hesitant in buying Electric Vehicle (EV) due to the heavy initial price. The starting price of this vehicle without BaaS model is Rs 18.03 lakh. Opting for the battery subscription model directly reduces the starting price by Rs 7.04 lakh. Instead, customers will have to pay battery rent at the rate of only Rs 3.9 per kilometer. The payment will be in the same proportion as the car runs.

With this new scheme, the company is also giving 8 years or 1,60,000 km warranty on the battery to the customers. This will completely eliminate the fear of battery damage or huge expense for its replacement from the customers’ minds.

New features added to the vehicle and update of fast charging

Along with introducing the BaaS model, Hyundai has also made some important cosmetic and technical changes to the Creta Electric. Now an integrated side foot step has been added to this premium SUV. This will make it much easier for children and elderly people to get in and out of the vehicle. It also makes the exterior look of the car more sporty. Apart from this, Hyundai will provide a free 7.4kW AC wall box charger with its HC variants.

Another major change has happened in its charging capacity. The Creta Electric now supports 100kW DC fast charging. After this software update, this car will be charged from 10% to 80% in just 39 minutes at a public charging station. Earlier this process used to take 58 minutes.

Official statement: The goal is to bring electric mobility to the common people.

“Our BaaS model is designed to democratize electric mobility in India. This model significantly reduces the initial purchase cost of the vehicle. The flexible rental plans that come with it will give customers the experience of driving a premium EV without any mental stress.”
Chief Operating Officer (COO), Hyundai Motor India Limited

Impact on the market and what will change for the general public

The Hyundai Creta Electric comes with two battery options in the market—42 kWh (range 420 km) and 51.4 kWh (range 510 km). Creta Electric directly competes with Maruti Suzuki’s E Vitara and Toyota’s Ibela, which are already preparing to enter the market with a similar BaaS model priced at Rs 10.99 lakh. On the other hand, no such subscription model is currently available in the recently launched Tata Sierra EV (starting price Rs 18.79 lakh).

This model can prove to be very economical for urban consumers and drivers who travel long distances daily. Now customers will get direct relief from the rising prices of petrol and diesel and the cost per kilometer will also be controlled.