Tata Motors has declared that it will be slashing ₹1,20,000 from the price of its Tiago and Nexon electric vehicles. A minor decline in the cost of the battery cells utilized in the production of these cars is primarily responsible for the price reduction. Furthermore, the costs of Tata's newly released Punch EV have not altered, despite the company announcing a price reduction for the Nexon and Tiago EVs.
The Tata Tiago EV will begin selling in India at ₹7.99 lakh following the price reduction. In the meantime, the long-range Nexon EV starts at ₹16.99 lakh, while the Nexon EV starts at ₹14.49 lakh.
In a statement, Chief Commercial Officer of Tata Passenger Electric Mobility Ltd. (TPEM), Vivek Srivatsa, discussed the price drop and stated that a significant portion of an EV's total cost is related to its battery. “Given that the cost of battery cells has recently decreased and that this trend is likely to continue, we have made the proactive decision to transfer the gains directly to our clients," he adds.
"EV sales have increased significantly in recent years, but our goal is to hasten EV adoption by increasing their accessibility across the country. Our portfolio already provides our smart, feature-rich EVs with an extensive selection of body designs, ranges, and price points. We think that the best-selling Tiago.ev and Nexon.ev become an even more appealing offer to draw in a wider client base at these reasonable costs," Srivastava continued.
In October 2022, the Tata Tiago EV was introduced with a starting price of ₹8.49 lakh (ex-showroom). Battery pack options for the Tata Tiago EV are two. The former has a 315 km MIDC range and is powered by a 24 kWh battery pack. A different alternative has a 19.2 kWh battery pack that should provide 250 km of range.
