Tata Motors has recently revealed a significant reduction in prices for their electric vehicle (EV) models. The popular Nexon.ev now has a starting price of Rs 14.5 lakh, marking a decrease of Rs 1.2 lakh. Additionally, the Tiago.ev will now be available from Rs 7.99 lakh, with a price reduction of Rs 70,000 for the Tiago model. This move by Tata Motors aims to pass on the benefits of reduced battery prices directly to their valued customers.
In a press release, Vivek Srivatsa, Chief Commercial Officer at the TPG-backed company, stated that due to the recent decline in battery cell prices and the potential for further reductions in the future, they have decided to proactively transfer the resulting advantages directly to customers. This move comes as Tata Motors recently reclaimed its position as the most valuable automaker in the country, a title it had lost in 2016.
In January, Shailesh Chandra, the Managing Director of Tata Motors Passenger Vehicles Ltd & Tata Passenger Electric Mobility Ltd, stated that the company anticipates a 40-45 per cent moderation in the sales of EVs in India this year due to the expanding base.
In a statement, Vivek Srivatsa, the Chief Commercial Officer of Tata Passenger Electric Mobility Ltd (TPEM), discussed the price reduction and its implications. He emphasized that battery costs make up a significant portion of the total cost of an electric vehicle (EV). Given the recent decline in battery cell prices and the potential for further reductions in the future, TPEM has decided to take proactive measures and pass on the resulting advantages directly to their customers.
In a statement, Vivek Srivatsa, the Chief Commercial Officer of Tata Passenger Electric Mobility Ltd (TPEM), discussed the price reduction and its implications. He emphasized that battery costs make up a significant portion of the total cost of an electric vehicle (EV). Given the recent decline in battery cell prices and the potential for further reductions in the future, TPEM has decided to take proactive measures and pass on the resulting advantages directly to their customers.
In the automotive landscape, the Tata Tiago EV emerges as a trailblazer, rewriting the narrative of electric vehicles with its grand entrance in October 2022. Priced at ₹8.49 lakh (ex-showroom), this electric marvel beckons a new era where sustainability meets affordability.
What sets the Tiago EV apart is the power of choice it places in the hands of drivers. The vehicle offers two distinct battery pack options, allowing consumers to tailor their driving experience to match their needs and preferences. The first option boasts a robust 24 kWh battery pack, unleashing a remarkable range of 315 km, a testament to Tata’s commitment to pushing the boundaries of electric mobility. Alternatively, for those seeking a slightly compact yet efficient choice, the 19.2 kWh battery pack promises a commendable range of 250 km.
Tata Motors
Has announced that its Passenger Electric Mobility division will now be selling the popular Nexon.ev at a starting price of Rs 14.49 lakh. Additionally, the price of the Long Range Nexon.ev (465 km) will begin at Rs 16.99 lakh.
In addition to this, the company has also reduced the price of its electric small car, the Tiago, by Rs 70,000, bringing it down to Rs 7.99 lakh.
Vivek Srivatsa, the Chief Commercial Officer at Tata Motors, stated that the decision to lower prices was made in light of the recent softening of battery cell prices and the potential for further reductions in the future. The company aims to pass on these benefits directly to customers.
Srivatsa further emphasized that Tata Motors’ goal is to accelerate the widespread adoption of electric vehicles by making them more accessible across the country. With a diverse portfolio that offers various body styles, ranges, and price points for their smart and feature-rich EVs, the company believes that the best-selling Nexon.ev and Tiago.ev will now be even more appealing to a larger customer base at these affordable prices.