MUMBAI: Tata Motors has launched an updated version of its popular entry level EV, the Punch, offering battery-as-a-service (Baas) for the first time, as the country’s largest EV maker eyes price parity with ICE equivalents.
The sub-compact electric SUV is now available at an ex-showroom price of Rs 9.69 lakh for the base model, with the price tag going up to Rs 12.6 lakh for the topend model. The price goes down to Rs 6.49 lakh under the BaaS financing model where the battery EMI is fixed at Rs 2.6/km, Tata Motors PV and Tata Passenger Electric Mobility managing director Shailesh Chandra said at the launch of the car here Friday.
At Rs 9.69 lakh, the Punch is the cheapest car in the EC space.
In a significant move, the company is offering life-time warranty for the battery, which is an industry first.
On bringing price parity with ICE models, Vivek Srivatsa, chief commercial officer at Tata Motors PV, told TNIE that they are working towards the same across all models.
“When you compare CNG Punch AMT with an EV Punch, it is at the same price. We have to look at CNG because these are people who want alternate fuels. And electric vehicle does not have gear. It is like automatic transmission. So, we should look at AT version of the CNG Punch and the Punch EV will be same price,” Srivatsa said.
Currently, larger battery size, over 350 km range, fast charging, unlimited warranty, are all being offered by above Rs 15 lakh EVs. "For example, our own Harrier Nexon and Curvv adoption is very strong there. With the Punch, now we are unlocking all of this," he added.
Asked whether the same pricing strategy will apply to other models as well, he answered in the affirmative, saying, “We are going in that direction. It cannot immediately happen, but with the EV Punch we are almost reaching there.”
“The new Punch makes electric mobility more accessible, practical and worry-free for every household,” Chandra said. According to him, the new Punch resolves the core concerns that have held consumers back from choosing an entry-level EV as their primary car.
The car comes with two types of batteries--a standard 30 kWh option and a larger 40 kWh lithium-iron phosphate prismatic cell pack offering 335-468 km range.
The 40 kWh variant delivers an ARAI-certified range of 468 km and an estimated real-world range of around 355 km, positioning it for both urban commute and short intercity trips. Pricing tops out at Rs 12.59 lakh for the 40 kWh battery.
The Punch also supports fast-charging to replenish the battery from 20% to 80% in 26 minutes. A 15-minute top-up can add up to 135 km of real-world range. The 40 kWh variant is backed by a lifetime high-voltage battery warranty covering unlimited kilometres for the first owner over a fifteen-year period.
The BaaS dual-loan finance option separates the vehicle's base cost from battery utilisation. The advertised BaaS pricing is applicable to the 30 kWh trim and assumes a daily usage of 60 km, excluding charging costs. The plan also includes assured buyback options, ranging from 40% buyback after five years to 60% after three years.
With the Punch, Tata Motors joins the likes of JSW MG Motor and Maruti in offering BaaS with its electric cars. While Maruti’s eVitara is available at a starting price of Rs 10.99 lakh, with BaaS EMI set at Rs 3.99/km, MG’s cars Comet, Windsor and ZS have a BaaS EMI ranging from Rs 2.5/km to Rs 4.5/km.
The company has a charging network of 2.3 lakh across 1,500 cities, aggregating over 30,000 public chargers from over 30 operators. Tata is also expanding its proprietary superfast charging network, aiming to grow its footprint of over 450 points on 80 highways to 800 charging points by the end of this fiscal.