ElecTree
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JSW-MG and Axis Bank tie up for BaaS
JSW-MG and Axis Bank have entered into a partnership for promoting Battery as a Service (BaaS).
To reduce upfront cost, Axis Bank will offer separate loan on battery to a maximum of 8 years. This will enable some users to get 100% EV financed.
BaaS did not have many takers in the initial phase. Do you think it will work now? Should other OEMs follow suit?
Comments (13)
Ferrarirules
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I have always found this to be a creative financial scheme and nothing else. This is not a true BaaS where the battery is owned by the OEM and you pay the usage cost
ElecTree
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@Ferrarirules
Yes, now the battery too will be owned by the bank. Full details are awaited for the said scheme. Will it be usage based only or a fixed EMI.
DeepakT
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There still won't be many takers for it. Indian don't like the complexity of BaaS T&C.
ElecTree
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@DeepakT
I agree. The BaaS does not have many takers. Majority who buy the Windsor can afford it the usual way. They do not require the additional hassle.
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