In sync with falling battery prices, Tata Motors, India's leading EV car maker, has reduced the price of its Nexxon and Tiago EV models to mainstream the adoption of EVs by making them more affordable nationwide
Tata Motors has announced a price reduction for its Nexon and Tiago EV models by up to Rs 1,20,000. The decision to cut prices is attributed to decreased costs of battery cells used in manufacturing. The recently launched Punch EV, however, retains its original pricing.
Following the adjustment, the Tata Tiago EV will now be priced at Rs 7.99 lakh in India. The Nexon EV starts at Rs 14.49 lakh, while the long-range Nexon EV starts at Rs 16.99 lakh.
Explaining the reason for the price cuts, Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility Ltd. (TPEM), stated that batteries are a significant part of the total cost of an electric vehicle (EV). And, as battery cell prices have fallen recently and are expected to fall further in the future, the company has decided to pass on these benefits directly to the customers.
Srivatsa emphasised Tata's commitment to accelerating the mainstream adoption of EVs by making them more accessible nationwide. He highlighted the diverse portfolio that offers a range of body styles, features, and price points for intelligent EVs. According to Srivatsa, the lowered prices make the Nexon EV and Tiago EV even more attractive to a broader customer base.
The Tata Tiago EV was initially launched in October 2022 at an introductory price of Rs 8.49 lakh (ex-showroom). It offers two battery pack options: a 24 kWh pack with a range of 315 km and a 19.2 kWh pack with a range of 250 km.