Our Financing Partners
Frequently Asked Questions
What is VIDA BaaS (BaaS - Battery as a Service) ?
The VIDA BaaS program allows customers to purchase the VIDA VX2 electric scooters at a lower upfront initial price (excluding battery price) and pay for the battery on a pay-per-usage model. This price decomposition (between the chassis and EV) reduces the upfront cost of buying the E2W and offers flexibility in payments.
Does the customer own the vehicle and battery under this program ?
The customer retains the full ownership of the entire electric two-wheeler, including both the chassis and the battery, from the moment of purchase. This program is currently structured as a financing plan, & not a battery leasing or subscription service that separates ownership. The electric two-wheeler will be hypothecated to the respective financier throughout the finance tenure or until the loan(s) are fully repaid.
Will a VIDA purchased under the VIDA BaaS program be eligible for the available government subsidies (like PM e-Drive, State subsidies) ?
Since the customer retains the full ownership of the vehicle, including the battery, the customer remains fully eligible for all applicable government incentives and subsidies without any ambiguity. There is no special pricing for vehicles purchased under this program (standard pricing & offers, if any, would apply). Further, the VIDA BaaS program is one among the many financing and payment options available for the customer to choose from.
How does the pay per usage model works for the battery ?
Under this program, the customer pays for the chassis either via full cash or standard loan and opts for a battery financing plan tied to the estimated monthly usage (in terms of kms). Each plan has a minimum usage (monthly kms) along with a stipulated usage limit over the plan tenure. If the customer exceeds the minimum usage kilometers, overage charges will apply based on a per-kilometer rate specific to the chosen plan.
What happens when the battery plan tenure ends or the stipulated kilometers are consumed ?
Once the predefined tenure of the chosen battery financing plan gets over, or the total stipulated kilometers for the plan are exhausted (whichever comes first), the battery payment obligation will be completed. On completion of payment obligation for both the battery and chassis, financier’s hypothecation on the vehicle will be removed.
Is HMCL providing the BaaS program for VIDA ?
While the VIDA BaaS program could be availed by visiting the nearest VIDA dealership, it is being provided by HMCL partnered financiers and not by HMCL. The BaaS plans can be availed only through the partner financiers.
What are the add-on benefits under the VIDA BaaS program ?
Under VIDA BaaS, you get access to VIDA fast charging network for the plan tenure, extended battery warranty (up to 5yrs/60,000 kms) , extended component warranty (up to 5yrs/75,000 kms for critical components) and VIDA connectivity pack over the plan tenure. These benefits are available on a complimentary basis exclusively for VIDA BaaS customers for vehicles invoicing done till 31st August, 2025.
What is the assured buyback program offered under VIDA BaaS ?
Under VIDA BaaS, customers will get an exclusive invite to apply for an assured buyback program. This is a paid program and assures buyback of up to 67% of the ESRP. Further details would be provided with the invite link. The program would be available only in select cities.
How to avail the VIDA BaaS program ?
VIDA BaaS can be availed by visiting the nearest VIDA dealership. Interested customers will receive a consent OTP (at the dealership) to apply for the program. After sharing the OTP with the dealership, customers will be introduced to the BaaS financier for eligibility checks. Approval would be at the sole discretion of the financing partners. HMCL or its dealers in no case will be responsible for customer eligibility for the program.
Can the customers opt out of the VIDA BaaS program before completion ?
Yes, customers can opt out of the VIDA BaaS plan by foreclosing the chassis and battery payment for the respective financing tenure.
Is the plan ownership transferable if I sell my VIDA before completion ?
No, the plan is not transferable. The owner of the vehicle has to foreclose the pending loans before selling the VIDA.
How is the battery covered under the BaaS plan ?
For customers purchasing under BaaS plan on or after 1st Sep 2025, it is mandatory for them to purchase an Extended Battery warranty plan on paid basis. They must share the Extended battery warranty invoice with the financier to get enrolled under the BaaS program.