The Hyundai Creta Electric offers the Hyundai Creta’s blockbuster package with an electric powertrain. While the Creta Electric is already an appealing offering, with the availability of BaaS, it is an even more compelling electric SUV for someone not willing to pay a large lump sum at the time of purchase. If you are one of those looking to buy the Hyundai Creta Electric with BaaS, here is a price comparison between the Hyundai Creta Electric with BaaS and without BaaS, so that you can know if the Hyundai Creta Electric with BaaS is a good deal for you.
Hyundai Creta Electric BaaS vs Ex-Showroom Price
| Variant | Ex-showroom price | Battery Price | BaaS Price |
| Executive 42 kWh | Rs. 18.03 lakh | Rs. 7.04 lakh | Rs. 10.99 lakh + Rs. 3.9/km |
Hyundai has revealed the BaaS price for only the base Executive variant, which is powered by a 42-kWh battery pack and has a claimed range of 420 km. Nonetheless, the evaluation of base variant ownership cost should give a clear idea of the ownership cost of the higher variants with BaaS.
Under the BaaS scheme, the Hyundai Creta Electric costs Rs. 10.99 with a Rs. 3.9/km battery subscription price. Thereby, the BaaS scheme slashes the upfront price of the model by Rs. 7.04 lakh, as its standard ex-showroom price is Rs. 18.03 lakh.
All the same, like other brands, Hyundai will charge a monthly fee, more like a battery EMI, depending on the pre-considered minimum monthly running of the user. For example, MG Motor charges for a minimum monthly running of 1,500 km, and Maruti Suzuki and Tata Motors charge for a minimum monthly running of 1,800 km.
Note: The battery subscription price is essentially the per-kilometre running cost according to the battery EMI. In simpler terms, the per-kilometre price is battery EMI divided by a set number of kilometres, which depends on the BaaS provider and is considered the minimum monthly running of their electric car.
Hyundai Creta Electric Price Comparison: Initial BaaS Price vs Ex-Showroom Price
Now, let’s compare the ownership of the Hyundai Creta Electric with BaaS against the Hyundai Creta Electric as a whole unit, including the battery. For this evaluation, we will consider 1,500 km as minimum monthly running, so the monthly battery subscription charge or battery EMI will be Rs. 3.90 X 1,500 = Rs. 5,850.
Case A – Hyundai Creta Electric (Base Executive variant) with BaaS
Upfront cost: Rs. 10.99 lakh
Down payment (20%): 20 % of Rs. 10.99 lakh = Rs. 2,19,800
Loan amount: Rs. 8,79,200
Monthly EMI on 9% interest: Rs. 18,251
Charging cost
- The average domestic tariff for electricity is Rs. 8/unit (kWh).
- Charging a 42-kWh battery pack requires around 45 units (assuming minor transmission losses), costing Rs. 360.
- Given the Hyundai Creta Electric 42 kWh battery’s claimed driving range of 420 km and real-world driving conditions, it will take around 4 full charging cycles to cover 1,500 km.
- Monthly electricity usage cost for 1,500 km will be around 4 X Rs. 360 = Rs. 1,440
Battery EMI: Rs. 3.9 X 1,500 = Rs. 5,850
Total monthly expenditure: Rs. 5,850 + Rs. 1,440 + Rs. 18,251 = Rs. 25,541
Total yearly expenditure: Rs. 25,541 X 12 = Rs. 3,06,492 + maintenance cost
5 years’ expenditure: Rs. 3,06,492 X 5 = Rs. 15,32,460 + maintenance cost
5 years ownership cost: Rs. 2,19,800 + Rs. 15,32,460 = Rs. 17,52,260 + maintenance cost
Now, if you do not finance the vehicle:
Total monthly expenditure: Rs. 5,850 + Rs. 1,440 = Rs. 7,290
Total yearly expenditure: Rs. 7,290 X 12 = Rs. 87,480 + maintenance cost
5 years’ expenditure: Rs. 87,480 X 5 = Rs. 4,37,400 + maintenance cost
5 years ownership cost: Rs. 10,99,000 + Rs. 4,37,400 = Rs. 15,36,400 + maintenance cost
Case B – Hyundai Creta Electric (Base Executive variant) without BaaS
Ex-showroom price: Rs. 18.03 lakh
Down payment (20%): 20 % of Rs. 18.03 lakh = Rs. 3,60,600
Loan amount: Rs. 14,42,400
Monthly EMI on 9% interest: Rs. 29,942
Charging cost: Rs. 1,440
Total monthly expenditure: Rs. 29,942 + Rs. 1,440 = Rs. 31,382
Total yearly expenditure: Rs. 31,382 X 12 = Rs. 3,76,584 + maintenance cost
5 years’ expenditure: Rs. 3,76,584 X 5 = Rs. 18,82,920 + maintenance cost
5 years’ ownership cost (without BaaS): Rs. 3,60,600 + Rs. 18,82,920 = Rs. 22,43,520 + maintenance cost
Now, if you do not finance the vehicle:
Total monthly expenditure: Rs. 1,440
Total yearly expenditure: Rs. 1,440 X 12 = Rs. 17,280 + maintenance cost
5 years’ expenditure: Rs. 17,280 X 5 = Rs. 86,400 + maintenance cost
5 years’ ownership cost (without BaaS): Rs. 18,03,000 + Rs. 86,400 = Rs. 18,89,400 + maintenance cost
Difference between cost of ownership of the Hyundai Creta Electric with BaaS and without BaaS (on loan) = Rs. 22,43,520 – Rs. 17,52,260 = Rs. 4,91,260
Therefore, in 5 years of ownership, a Hyundai Creta (Executive) with BaaS will save you around Rs. 4.9 lakh, compared to buying the same model as a whole unit with the battery.
ALSO READ: Electric Cars Available with BaaS Scheme in India
Final Thoughts
Considering the evaluation done above, the Hyundai Creta Electric under the BaaS scheme is a great option and can save you a lot of money. All the same, it is important to note that we have calculated ownership costs based on the prices Hyundai claims for the with BaaS and without BaaS models of the Hyundai Creta Electric. The prices can fluctuate depending on the loan you get on the vehicle.
The BaaS scheme is more of a dual-finance model than a battery rental scheme. At the time of purchase, you get a loan on the vehicle, and separately, you get a loan on the battery. The battery EMI is charged separately from the vehicle EMI.
FAQ
What is the Hyundai Creta Electric BaaS price?
Under the BaaS scheme, the Hyundai Creta Electric costs Rs. 10.99 with a Rs. 3.9/km battery subscription price. As of now, Hyundai has revealed the BaaS price of only the base variant of the Hyundai Creta Electric.
Is Hyundai Creta BaaS more affordable than the Maruti e Vitara BaaS?
With BaaS, the Maruti Suzuki e Vitara costs Rs. 10.99 lakh + Rs. 3.99/km to Rs. 14.51 lakh + Rs. 4.39/km. The Maruti Suzuki e Vitara ex-showroom price is Rs. 15.66 – 20.01 lakh. The Maruti e Vitara BaaS slashes the upfront cost by Rs. 5 – 5.55 lakh.
Meanwhile, the Hyundai Creta Executive has an ex-showroom price of Rs. 18.03 lakh, and its BaaS price is Rs. 10.99 + Rs. 3.9/km. The Hyundai Creta BaaS cuts down the upfront cost by Rs. 7.04 lakh.
Therefore, the Hyundai Creta BaaS saves more upfront cost than the Maruti Suzuki e Vitara BaaS.Why is Hyundai offering a BaaS scheme with the Hyundai Creta Electric?
Like other brands, Hyundai intends to capitalise on the recently developed BaaS model, which helps a buyer by allowing them not to pay the full battery price at the time of purchasing an electric car. Instead, one can get a reasonable loan on the battery and pay monthly Battery EMIs.
Is Creta diesel worth buying?
The Creta diesel pairs a punchy 1.5-litre engine with roughly 18 to 21 kmpl efficiency, making it a smart pick if you clock high miles or love long highway drives. For lighter city use, petrol is easier on the wallet, since diesel carries a price premium.
