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Saturday, April 13, 2024

Tata EV reduces EV prices up to Rs 1.2 lakh

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Mumbai: Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors, announced on Tuesday a reduction in the prices of its bestselling EVs, Nexon.ev and Tiago.ev, with the objective of making EVs more accessible to Indian customers.

Nexon.ev gets a price reduction of up to Rs 1.2 lakh, Tiago.ev gets a price reduction of up to Rs 70,000, and the base model starts at Rs 7.99 lakh.

The initial prices of the recently launched Punch.ev remain unchanged as they already factor in a reduction in battery prices in the foreseeable future.

Speaking about this price reduction, Vivek Srivatsa, Chief Commercial Officer, TPEM, 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, ranges, 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.”

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