Tata has lowered the price of the Nexon EV and Tiago EV effective immediately in order to pass along the savings from lower battery costs to customers.
Tata Tiago EV
Today, the nation’s top-selling electric car, the Nexon EV, and Tata Passenger Electric Mobility Ltd. (TPEM) formally announced price reductions for both models. Tata has shared the savings on battery prices with domestic consumers in an effort to increase the accessibility of zero-emission vehicles.
Price reductions of up to Rs. 1.2 lakh have been made available for the 2024 Tata Nexon EV, while the entry-level Tata Tiago EV now retails for Rs. 7.99 lakh (ex-showroom) due to price reductions of up to Rs. 70,000. The domestic automaker has announced that Punch EV will maintain its current pricing, having already taken into account the advantages of the lower battery cost. Punch EV was just introduced.
The starting price of the Tata Tiago Punch EV is currently Rs. 10.99 lakh, and the most expensive model costs Rs. 15.49 lakh (ex-showroom). In the brand’s expanding lineup of electric vehicles, which will also include the brand-new Curvv by the middle of this year, the electric micro SUV is positioned below the Nexon EV.
The base price of the recently facelifted Tata Nexon EV is now Rs. 16.99 lakh, thanks to a significant reduction of Rs. 1.2 lakh, while the base variant of the Nexon Tata Tiago EV EV Long Range is priced at Rs. 14.49 lakh, down Rs. 25,000 (both prices, ex-showroom). Speaking about the price reduction, TPEM’s Chief Commercial Officer Vivek Srivatsa stated:
“A significant portion of an electric vehicle’s total cost is related to its battery.” Given that the cost of battery cells has recently decreased and that this trend is likely to continue, we have made the proactive decision to transfer the benefits directly to our customers.
According to Tata, a larger range of Indian consumers will be able to purchase the Tata Tiago EV and Nexon Tata Tiago EV EV due to the price reduction. During the 2023 calendar year, the passenger electric vehicle market expanded by more than 90%, while the photovoltaic sector only saw 8% growth. With EV sales showing a 100% YoY increase in the first month of this CY and TPEM holding a dominant market share of more than 70%, the growth momentum has continued.
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