Tata Motors has recently launched its new Punch EV, priced at ₹9.69 lakh (approximately $10,650), aiming to penetrate the budget segment of India's electric vehicle market. This model is particularly significant as it addresses the entry-level segment, where approximately 65% of the 4.6 million passenger vehicles sold in India last year were priced below $13,200, yet only 1.6% of these were electric vehicles (EVs). Shailesh Chandra, CEO of Tata Motors, emphasized the importance of this segment, stating, "The real challenge is the entry segment. Until we crack this, we will not be able to mainstream EVs." The Punch EV offers a long-range variant capable of traveling 350 kilometers (217 miles) on a single charge and can be charged from 20% to 80% in just 26 minutes with a fast charger. Additionally, Tata Motors is introducing a Battery-as-a-Service (BaaS) model, allowing customers to purchase the vehicle at a lower upfront cost of ₹6.49 lakh, with a separate charge for battery usage of ₹2.6 per kilometer.