Could the TecPac model actually bring down the price of EVs and make them accessible?

Bajaj's introduction of TecPac subscription model for the Chetak Urbane electric scooter is a unique model for pricing EVs and determining which features an owner can use. Bajaj may be able to offer lower base price of the scooters by offering the features, which they can make as optional and available on subscription. If it works, it could bring the initial purchase of an EV into the financial reach of a greater number of consumers. The model lets buyers select which features they want and when they want them, and lets them pay over time. But this also begs the question: what are the long term costs of ownership and how affordable is the vehicle really? Let’s think about how this model might play out differently for each segment of consumers – from budget buyers to tech enthusiasts – and whether it can be a stepping stone for wider EV adoption in India. A key factor in determining success and potential spread of this model in the EV market is likely to be the balance between upfront affordability and long term value.