Tata Motors, one of the leading car manufacturers in India, has recently announced a significant price reduction for its electric vehicle (EV) models, the Tata Tiago EV and Nexon EV. This move comes as a result of a decrease in the prices of battery cells used in the manufacturing of these cars.
The Tata Tiago EV, which was launched in October 2022 with a starting price of ₹8.49 lakh (ex-showroom), will now be available at a reduced starting price of Rs 7.99 lakh. Similarly, the starting price of the Nexon EV has been reduced to Rs 14.49 lakh, while the long-range Nexon EV will now start at Rs 16.99 lakh.
In a press release, Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility Limited, mentioned that the cost of batteries is a major component of the total cost of an EV. He highlighted the recent moderation in battery cell prices and the company’s decision to pass on the benefits directly to customers. This price reduction aims to make EVs more accessible and accelerate their mainstream adoption across the country.
The Tata Tiago EV offers two battery pack options. The first option includes a 24 kWh battery pack with a range of 315 km (MIDC). The second option comes with a 9.2 kWh battery pack and provides a range of 250 km. These battery pack options ensure that customers have choices that suit their specific needs and preferences.
With this significant price reduction, the Tata Tiago EV and Nexon EV become even more attractive options for customers looking to switch to electric vehicles. The affordability and improved accessibility of these EVs will undoubtedly contribute to a larger group of customers opting for them.
Tata Motors’ initiative to reduce the prices of its EV models reflects the company’s commitment to promoting sustainable transportation and driving the adoption of electric vehicles in India. This move not only benefits the customers but also supports the government’s efforts to reduce carbon emissions and create a greener future for the country.