Perodua QV-E BaaS: Here What The RM275 Monthly Leasing Scheme Brings

The Perodua QV-E officially launched earlier today with a nett selling price of RM80,000 excluding insurance and Battery-as-a-Service (BaaS) fees. For this feature, we'll cover the latter scheme specifically.

Earlier today, second national carmaker Perodua officially launched its first battery electric vehicle (BEV). Called the QV-E (pronounced ‘Queue-Vee’), the model arrives with Malaysia’s first Battery-as-a-Service (Baas) EV battery leasing scheme too, which lasts for 9 years.

Though not a new concept for EVs/BEVs globally, it is a first for the local market, and we understand there may be some confusion towards it. Perhaps this detailed explainer ought to help make things clearer and help you decide if Rawang’s novel new EV is worth adopting or not.

For the QV-E, buyers are required to cover both the monthly Hire Purchase (Loan) and BaaS payments, but these can be done in one single payment.

Two Costs, One Single Monthly Payment

Firstly, BaaS cost is NOT factored in the QV-E’s RM80,000 nett selling price (sans insurance). Yes, you are technically making two separate monthly payments – one for the vehicle’s hire purchase itself, and another for the 9-year long BaaS scheme.

The latter is however paid together with the former's monthly instalment in a single payment to the bank, and the bank is tasked with passing on what’s owed to Perodua for the BaaS scheme. The BaaS fee alone amounts to RM275 a month, or RM297 with 8% SST factored in.

Taking a best-case-scenario approach (2.4% interest rate), here’s a sample estimate of the monthly payment costs QV-E buyers need to fork out to adopt it:

(Note: Figures stated are best estimates. Actual prices may vary.)

Depending on how large of an initial downpayment any buyer puts down, the final monthly payment amounts with BaaS will indeed vary from one buyer to another. Given which, we’ll leave it to you to gauge just how ‘affordable’ the Perodua QV-E really is.

Costing RM275 monthly for up to 9 years, Perodua's BaaS is critical to the QV-E as it brings key guarantees over the battery pack to owners.

BaaS Brings ‘Zero Liability’ For EV Owners

The reason behind BaaS is simple – Perodua takes all the risks and liabilities tied to the EV battery pack away from QV-E owners fully. The automaker acknowledges that factors like battery health and replacement costs are what many fear most. We’ll also add these factors have huge impacts to an EV’s resale value too.

BaaS nullifies those fears by taking all the risks noted away from buyers, with Perodua further arguing it helps to reduce purchase price too. In turn, BaaS guarantees owners always have a battery in best condition. The battery pack is replaced should state of health (SoH) dip below 70% during the leasing tenure.

Critically, BaaS means QV-E buyers (and subsequent owners) technically do not ‘own’ the battery pack in their vehicles – Perodua does. Effectively, this also sees insurance for the battery pack also borne by the carmaker, not the car buyer.

Effectively, QV-E owners do not own the battery pack primed in their EVs, and BaaS alleviates a number of key worries too.

Furthermore, though Perodua did not mention this during today’s launch, part of the BaaS fee also covers the costs to recover and or dispose the battery responsibly too – an area of EV ownership that’s rarely discussed. Yes, P2 really thought that far ahead.

Speaking of disposal, the EV battery pack brimmed in the QV-E is already primed with both a battery tracker and the government-mandated ‘Battery Passport’ (QR code sticker and part number).

The tracker will trigger when the battery pack is detached from the car, or if the car has been left idle over prolonged periods (abandoned). Perodua notes that in this situation, it will initiate a ‘Battery Rescue’ effort to recover the pack and mitigate improper (irresponsible) disposal or handling of which.

You cannot purchase the Perodua QV-E, even a used or 'pre-owned' one, without signing up for BaaS.

BaaS Is Mandatory

Perodua has made it clear that there won’t be an option for buyers of the QV-E to purchase the battery pack outright. In other words, BaaS is mandatory when you purchase the QV-E, and buyers must sign on for the scheme’s 9-year tenure.

Should your hire purchase (loan) tenure be shorter than BaaS, then the next fact ought to answer your querries…

BaaS Fees Continues Even After Hire Purchase/Loan Term Ends

Should buyers reach the end of their hire purchase (loan) tenure after 5,6 or 7 years, the 9-year BaaS scheme still continues. This means owners are still required to fork out the RM275 monthly fee for the remaining 4,3 or 2 years.

At this stage, monthly payments for BaaS is then shifted away from the bank and directly to Perodua instead via its P-Circle super-app.

BaaS Still Applies To ‘Cash Buyers’ Too

As for cash buyers of the QV-E, their actual cash buy only covers the car and NOT BaaS. These buyers are required to make their monthly BaaS payments over theperiod stated directly to Perodua via the P-Circle super-app mentioned too.

Thinking selling or buying a used (pre-owned) QV-E? This can only be done through the official Perodua Pre-Owned Vehicles (POV) arm.

You Can Only Sell & Buy A Used QV-E Through Perodua’s POV

Lastly comes the scenario for QV-E buyers who seek to sell theirs off early, and for potential buyers seeking better value for money through acquiring a used one. For this, Perodua outlined clearly that the sale of used QV-E units can only be done through their official Perodua Pre-Owned Vehicles (POV) arm.

Firstly, for owners selling off their used QV-E through Perodua POV, the automaker notes that their initial 9-year BaaS commitment is terminated at said point with no penalties or ‘exit fee’ imposed.

Upon receiving a used unit in inventory, Perodua will then assess the SoH of said unit’s battery pack. As noted, should the pack's SoH dip below 70%, then the automaker will replace the pack before re-selling the used unit to a new owner.

As used or pre-owned QV-E buyers acquiring one through Perodua POV, they must sign-up for a new 9-year BaaS scheme. From which point, Perodua will cover them with same guarantees and coverage as if they bought the QV-E new.