Tata Tiago EV & Nexon EV
Source:-Tata Motors
Tata Passenger Electric Mobility Ltd (TPEM) has officially announced the reduction of prices for the popular Tata Tiago EV and the best-selling Nexon EV. To make electric vehicles more affordable for consumers in India, Tata has passed on the benefits gained from a decrease in battery prices.
The prices of the 2024 Tata Nexon EV have been reduced by up to Rs. 1.2 lakh, while the entry-level variant of the Tata Tiago EV now has a price of Rs. 7.99 lakh (ex-showroom) due to a discount of up to Rs. 70,000. Tata has clarified that the recently launched Punch EV will maintain its current prices as the battery price reduction has already been taken into account.
Source:-Tata Motors
The Tata Punch EV is currently priced between Rs. 10.99 lakh and Rs. 15.49 lakh (ex-showroom) for the top-end model. Positioned below the Nexon EV in Tata’s expanding electric vehicle lineup, the Punch EV will be joined by the new Curvv later this year.
Following the recent facelift, the Tata Nexon EV now starts at Rs. 14.49 lakh, reflecting a price drop of Rs. 25,000. The base variant of the Nexon EV Long Range is now priced at Rs. 16.99 lakh, thanks to the significant reduction of Rs. 1.2 lakh (both prices, ex-showroom). Commenting on the price reduction, Vivek Srivatsa, Chief Commercial Officer of TPEM, stated:
Source:-Tata Motors
“Battery costs account for a significant portion of an electric vehicle’s overall cost. As battery cell prices have recently become lower, and with the expectation of further reductions in the future, we have chosen to pass on the resulting benefits to our customers.”
Tata believes that the price reduction will make the Tiago and Nexon more accessible to a wider range of consumers in India. In 2023, the passenger electric vehicle market experienced over 90 percent growth, compared to the 8 percent growth observed in the PV sector. This growth trend has continued this year, with electric vehicle sales seeing a 100 percent year-on-year increase in the first month. TPEM currently dominates the market with over 70 percent market share.
Source:-Tata Motors