- By Divanshi Sharma
- Wed, 14 Feb 2024 12:05 PM (IST)
- Source:JND
Tata Nexon EV And Tiago EV Price Drop: Tata Motors, a leading automobile manufacturer in India, currently also dominates the EV segment in the country. The leading EV manufacturer in India, Tata Motors has announced it has reduced the price of two of its models - Nexon EV and Tiago EV. The price reduction is primarily attributed to a slight decrease in the prices of battery cells used in manufacturing these models. While Tata has announced price cuts for the Nexon and Tiago EV, the prices of the recently launched Punch EV and the Tigor EV have not been reduced.
Tata Motors has slashed the price of the Nexon EV by up to Rs 1.2 lakh, bringing the starting price down to Rs 14.49 lakh (ex-showroom). Similarly, the company has reduced the prices of the Tiago EV by up to Rs 70,000, with the base model now available at a starting price of Rs 7.99 lakh (ex-showroom). Tata Motors launched the Nexon EV in the Indian market for the first time in February 2022 whereas the Tiago EV was launched in India in September 2022.
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Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility 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.”