Tata Motors has the longest EV lineup in India. However, the popular Indian carmaker currently sells only two electric cars with the BaaS scheme – the Tata Punch EV and the Tata Tiago EV. In this article, we evaluate the ownership costs of the Tata Punch EV BaaS and the Tata Tiago EV BaaS to determine the price difference between the two and how affordable the Tiago EV with BaaS is compared to the Tata Punch EV with BaaS.
Tata Punch EV Quick Overview
The Tata Punch EV is one of the best-selling electric cars in India. Like the ICE Tata Punch, the Punch EV offers a higher seating position for a commanding view of the outside, fabulous ride comfort, a robust body, and a macho appeal. Overall, it is the package that has made the ‘Tata Punch’ nameplate a top-seller in the Indian market. The Punch EV is offered with two battery packs: 30 kWh and 40 kWh, and has a claimed range of 365-468 km. As far as BaaS is concerned, Tata has revealed the price of BaaS only for the base Smart variant of the Tata Punch EV.
ALSO READ: Should you buy the Tata Punch EV in the BaaS scheme: Pricing Comparison
Tata Tiago EV Quick Overview
For budget-conscious buyers looking for an affordable electric car, the Tata Tiago EV is a compelling option. The Tiago EV is more spacious than its arch-rival, the MG Comet EV, and offers a decent range for city driving. Like the standard Tata Tiago, the Tiago EV is sufficiently loaded with modern features to deliver a comfortable and convenient user experience. The Tata Tiago EV is offered with two battery packs: 19.2 kWh and 24 kWh, and has a claimed range of 226-285 km. Like the Tata Punch EV, Tata has revealed the BaaS price of only the base Smart variant of the Tata Tiago EV.
ALSO READ: Should you buy the Tata Tiago EV in the BaaS scheme: Pricing Comparison
Price Comparison of Tata Punch EV and Tata Tiago EV
As mentioned, Tata has revealed BaaS prices only for the base variants of the Tata Punch EV and the Tata Tiago EV.
| Tata Punch EV | Tata Tiago EV | |
| Standard Base Variant Price | Rs. 9.69 lakh | Rs. 6.99 lakh |
| BaaS Price | Rs. 6.49 lakh | Rs. 4.69 lakh |
| Battery Subscription Cost | Rs. 2.6/km | Rs. 2.6/km |
| Battery Price | Rs. 3.20 lakh | Rs. 2.30 lakh |
The Punch EV as a whole unit costs Rs. 9.69 – 12.29 lakh (ex-showroom), and its BaaS price is Rs. 6.49 lakh + Rs. 2.6/km. The BaaS scheme slashes the upfront cost of the Tata Punch EV Smart by Rs. 3.20 lakh.
The Tata Tiago EV has an ex-showroom price of Rs. 6.99 – 9.99 lakh. However, its BaaS price starts at Rs. 4.69 lakh with a battery subscription cost of Rs. 2.6/km. The BaaS scheme drops the upfront cost of the Tata Tiago EV Smart by Rs. 2.30 lakh.
As is the case with all BaaS providers, Tata charges a minimum monthly payment, more like a battery EMI, depending on the loan you get on the battery.
Note: The battery subscription price is essentially the per-kilometre running cost, as reflected in the battery EMI. In simpler terms, the per-kilometre price is the battery EMI divided by a set number of kilometres, which varies by BaaS provider and is considered the minimum monthly running distance for their electric car. For example, MG charges for a minimum monthly running distance of 1,500 km, Maruti Suzuki charges for 1,800 km, and Tata charges for 1,800 km.
ALSO READ: Electric Cars Available with BaaS Scheme in India
Cost of Ownership Comparison: Tata Punch EV BaaS vs Tata Tiago EV BaaS
Case A – Tata Punch EV (Base Smart variant) with BaaS
Upfront cost: Rs. 6.49 lakh
Down payment (20%): 20 % of Rs. 6.49 lakh = Rs. 1,29,800
Loan amount: Rs. 5,19,200
Monthly EMI on 9% interest in a 5-year loan tenure: Rs. 10,778
Charging cost
- The average domestic tariff for electricity is Rs. 8 per unit (kWh).
- Charging a 30-kWh battery pack requires about 33 units (assuming minor transmission losses), at a cost of Rs. 264.
- Given the Tata Punch EV 30 kWh battery’s claimed driving range of 365-375 km and real-world driving range of 260–275 km, it will take around 7 full charging cycles to cover 1,800 km.
- Monthly electricity usage cost for 1,800 km will be around 7 X Rs. 264 = Rs. 1,848
Minimum monthly charge or Battery EMI: Rs. 2.6 X 1,800 = Rs. 4,680
Note: The minimum monthly charge may vary depending on the battery loan you get.
Total monthly expenditure: Rs. 4,680 + Rs. 1,848 + Rs. 10,778 = Rs. 17,306
Total yearly expenditure: Rs. 17,306 X 12 = Rs. 2,07,672 + maintenance cost
5 years’ expenditure: Rs. 2,07,672 X 5 = Rs. 10,38,360 + maintenance cost
5 years ownership cost: Rs. 1,29,800 + Rs. 10,38,360 = Rs. 11,68,160 + maintenance cost
Now, if you do not finance the vehicle:
Total monthly expenditure: Rs. 4,680 + Rs. 1,848 = Rs. 6,528
Total yearly expenditure: Rs. 6,528 X 12 = Rs. 78,336 + maintenance cost
5 years’ expenditure: Rs. 78,336 X 5 = Rs. 3,91,680 + maintenance cost
5 years ownership cost: Rs. 6,49,000 + Rs. 3,91,680 = Rs. 10,40,680 + maintenance cost
Case B – Tata Tiago EV (Base Smart variant) with BaaS
Upfront cost: Rs. 4.69 lakh
Down payment (20%): 20 % of Rs. 4.69 lakh = Rs. 93,800
Loan amount: Rs. 3,75,200
Monthly EMI on 9% interest in a 5-year loan tenure: Rs. 7,789
Charging cost
- The average domestic tariff for electricity is Rs. 8 per unit (kWh).
- Charging a 19-kWh battery pack requires about 22 units (assuming minor transmission losses), at a cost of Rs. 176.
- Given the Tata Tiago EV 19 kWh battery’s claimed driving range of 226 km, it will take around 8 full charging cycles to cover 1,800 km.
- Monthly electricity usage cost for 1,800 km will be around 8 X Rs. 176 = Rs. 1,408
Minimum monthly charge or Battery EMI: Rs. 2.6 X 1,800 = Rs. 4,680
Note: The minimum monthly charge may vary depending on the battery loan you get.
Total monthly expenditure: Rs. 4,680 + Rs. 1,408 + Rs. 7,789 = Rs. 13,877
Total yearly expenditure: Rs. 13,877 X 12 = Rs. 1,66,524 + maintenance cost
5 years’ expenditure: Rs. 1,66,524 X 5 = Rs. 8,32,620 + maintenance cost
5 years ownership cost: Rs. 93,800 + Rs. 8,32,620 = Rs. 9,26,420 + maintenance cost
Now, if you do not finance the vehicle:
Total monthly expenditure: Rs. 4,680 + Rs. 1,408 = Rs. 6,088
Total yearly expenditure: Rs. 6,088 X 12 = Rs. 73,056 + maintenance cost
5 years’ expenditure: Rs. 73,056 X 5 = Rs. 3,65,280 + maintenance cost
5 years ownership cost: Rs. 4,69,000 + Rs. 3,65,280 = Rs. 8,34,280 + maintenance cost
Difference between costs of ownership of Tata Punch EV Smart with BaaS and Tata Tiago EV with BaaS = Rs. 11,68,160 – Rs. 9,26,420 = Rs. 2,41,740
Therefore, over 5 years of ownership of base variants, a Tata Tiago EV with BaaS will prove to be over Rs. 2.4 lakh more affordable than the Tata Punch EV with BaaS.
Final Thoughts
The Tata Tiago EV with BaaS is about Rs. 2.4 lakh more affordable than the Tata Punch EV with BaaS. However, while considering either of these two, it would be good to compare the price difference with the difference in their offerings. At the Rs. 2.4 lakh premium over the Tata Punch EV BaaS cost, the Punch EV offers a much larger car, the coveted SUV body type, many more features, and a significantly longer driving range.
FAQ
Do the Tata Tiago EV and Tata Punch EV have the same BaaS prices?
The Tata Tiago EV BaaS price is Rs. 4.69 lakh + Rs. 2.6/km, and the Tata Punch EV BaaS price is Rs. 6.49 lakh + Rs. 2.6/km. So, while the BaaS prices of the Tata Tiago EV and Tata Punch EV differ, their battery subscription charge is the same: Rs. 2.6 per kilometre.
How much does the BaaS reduce the Tata Punch EV price?
BaaS never reduces the price of any electric car. It is just a dual-loan model. In BaaS, instead of getting a loan for the entire electric car, including the battery, you get separate loans for the car and the battery. BaaS reduces the upfront cost of an electric car by separating battery costs from the vehicle’s cost. For the Tata Punch EV, the battery costs Rs. 3.20 lakh. Therefore, with Tata Punch EV BaaS, you do not need to pay the battery price, Rs. 3.20 lakh, at the time of purchase.
Why should I buy a Tata Tiago EV with BaaS?
BaaS separates the battery cost from the vehicle cost. So, if you are willing to buy a Tata Tiago EV and pay for its battery cost of Rs. 2.30 lakh in EMIs (Equated Monthly Instalments), you should buy the Tata Tiago EV with BaaS.
