Tata Motors, one of the leading car manufacturers in India, has recently announced a significant price reduction of ₹1,20,000 for its electric vehicle models, the Nexon EV and Tiago EV. This decision was made in response to the decrease in battery cell prices used in the production of these cars.
The price reduction only applies to the Nexon EV and Tiago EV models, while the recently launched Punch EV remains unaffected. As a result of this price cut, the Tata Tiago EV is now available starting at ₹7.99 lakh in India. Additionally, the starting price for the Nexon EV is now ₹14.49 lakh, with the long-range option starting at ₹16.99 lakh.
Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility Limited, emphasized the significant role that battery costs play in the overall price of an electric vehicle. With the recent decrease in battery cell prices and the anticipation of potential shortages in the future, Tata Motors has decided to directly pass on the benefits to its customers.
Srivatsa further highlighted the company’s mission to promote widespread adoption of electric vehicles by making them more accessible throughout the country. The reduced prices of the Nexon EV and Tiago EV are expected to make these models even more appealing to a wider range of customers.
The Tata Tiago EV was initially launched in October 2022, offering two battery pack options. The first option features a 24 kWh battery pack with a range of 315 km, while the second option includes a 9.2 kWh battery pack providing a range of 250 km.
With Tata Motors’ efforts to make electric vehicles more affordable, the Indian market can anticipate increased interest and adoption of sustainable transportation options.