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Business News/ Auto News / Tata Motors cuts EV prices by up to 1.2 lakh. Check new prices here
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Tata Motors cuts EV prices by up to ₹1.2 lakh. Check new prices here

Tata Motors reduces price of Nexon and Tiago EV by up to ₹1,20,000 due to decline in battery cell prices. Price cut announced for Nexon and Tiago EV by Tata Motors due to decrease in battery cell prices.

Tata Motors' electric vehicle Nexon.ev is seen during its launch in New Delhi, India, September 14, 2023. REUTERS/Anushree Fadnavis (REUTERS)Premium
Tata Motors' electric vehicle Nexon.ev is seen during its launch in New Delhi, India, September 14, 2023. REUTERS/Anushree Fadnavis (REUTERS)

Tata Motors has announced that it is reducing the price of its Nexon and Tiago EV by up to 1,20,000. The price reduction is largely due to a slight fall in the prices of battery cells used in the manufacturing of these cars. Moreover, while Tata has announced a price cut for Nexon and Tiago EV, the prices of the recently launched Punch EV have remained unchanged.

After the price cut, the Tata Tiago EV will start at 7.99 lakh in India. Meanwhile, the Nexon EV starts at 14.49 lakh while the long-range Nexon EV starts at 16.99 lakh.

Speaking about this price reduction, Tata Passenger Electric Mobility Ltd (TPEM) Chief Commercial Officer Vivek Srivatsa in a release said, “Battery costs constitute a substantial part of the overall cost of an EV. With battery cell prices having softened in the recent past and considering their potential reduction in the foreseeable future, we have chosen to proactively pass on the resulting benefits directly to customers."

"While EVs have grown rapidly over the last few years, our mission is to accelerate the mainstream adoption of EVs by making them more accessible nationwide. Our portfolio already offers a wide choice of body styles, range and price points for our smart, feature rich EVs. We believe that at these accessible prices, the best-selling Nexon.ev and Tiago.ev become an even more compelling proposition to attract a larger pool of customers." Srivastava added.

The Tata Tiago EV was launched in October 2022 at an introductory price of 8.49 lakh (ex-showroom). Tata Tiago EV has two battery pack options. The former consists of a 24 kWh battery pack with an MIDC range of 315 km. Another option comes with a 19.2 kWh battery pack which is said to deliver a range of 250 km.

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Published: 13 Feb 2024, 11:46 AM IST
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