In a landmark push toward electric mobility, Tata Motors is set to unveil a breakthrough ownership model that could finally put EV and ICE (Internal Combustion Engine) cars on equal footing, not just on the road, but also in your monthly budget.EV at the Price of ICE: A Smart, Wallet-Friendly MoveTo tackle the primary barrier to EV adoption (high upfront cost) , Tata is introducing a new affordability scheme that aligns an EV buyer’s monthly EMI with that of its ICE version.The initiative is backed by a strategic tie-up with ICICI Bank and will roll out with a Balloon EMI Scheme , designed to keep monthly payments consistent and manageable.How the Balloon EMI Scheme Works:Customers pay a fixed EMI for the first 59 months , identical to the EMI for an equivalent ICE vehicle.In the 60th month , a “balloon” payment (a lump sum) is due.The buyer then has the flexibility to pay, refinance, or trade in the car , much like Mercedes-Benz’s popular Star Agility Program .One more option for the buyer is to sell the car in the market. This sale can then be used to complete the balloon payment (and you can keep any profits you’ve made along the way).Inspired by Luxury, Made for EveryoneMuch like Mercedes-Benz’s Star Agility , which has long made luxury cars more accessible through flexible ownership and residual value planning, Tata’s new scheme brings similar benefits to the mass-market EV segment .By absorbing the upfront premium of an EV into a long-term, ICE-equivalent EMI structure, Tata aims to remove the psychological and financial friction of going electric.Based on Real-World SavingsTata’s scheme isn’t just clever financing, it’s rooted in real savings . With the lower cost per kilometer that EVs offer (often one-fourth the cost of petrol or diesel), buyers can offset the final balloon payment through cumulative running cost savings over five years .The Future Is Now And It's AffordableThis initiative, paired with Tata's Lifetime Battery Warranty on select EVs, positions the automaker as the most aggressive player in India’s electric revolution, not just with products, but with customer-first policies that eliminate traditional barriers.From the powerful Harrier.ev to the urban-friendly Nexon.ev and Curvv.ev, owning a Tata EV may now be as easy on your pocket as owning an ICE car but far more rewarding in the long run.Stay tuned for official rollout dates and eligibility details.