Electric　vehicles　(EVs)　have　gained　significant　popularity　due　to　their　eco-friendly　benefits.　However,　EV　batteries　are　capital-intensive　and　their　performance　deteriorates　with　usage,　which　undermines　their　market　competitiveness　compared　to　gas-powered　cars.　To　address　this　issue,　EV　manufacturers　have　introduced　battery-leasing　services　(BLS)　to　reduce　the　upfront　cost　for　consumers　and　have　provided　a　performance-guaranteed　warranty　policy　(PGWP).　Nevertheless,　the　high　upfront　production　costs　and　maintenance　expenses　associated　with　PGWP　impose　a　financial　burden　and　risk　on　manufacturers.　Therefore,　based　on　real-world　cases,　this　study　introduces　a　battery　asset　company　(BAC)　to　explore　related　pricing　strategies　for　providing　BLSs　under　PGWP　and　to　examine　the　impact　of　various　collaboration　models　with　BAC　on　manufacturers.　The　findings　reveal　that　the　relationship　between　the　total　discount　factors　of　consumers　and　firms　significantly　influences　the　pricing　strategies　of　EV　bodies　and　BLS.　When　consumers’　total　discount　factor　is　relatively　low,　the　＇razor-blade　effect＇　emerges.　Furthermore,　we　identify　that　the　cost　advantages　of　BAC　are　the　primary　drivers　of　manufacturers’　collaboration　strategies.　Interestingly,　although　the　collaboration　model　where　manufacturers　sell　batteries　to　BAC　while　retaining　BLS　operational　responsibilities　is　theoretically　the　least　favorable　option,　it　can　yield　the　highest　short-term　returns　and　cash　flow　protection　when　battery　maintenance　costs　are　relatively　high.　Additionally,　under　cost-revenue　ratio　constraints,　this　collaboration　model　can　also　effectively　alleviate　manufacturers’　financial　pressure,　enabling　them　to　achieve　maximum　profitability.　©　2025　Elsevier　Ltd