Tata Motors has announced a price cut on the Nexon EV and the Tiago EV, bringing down the starting price on both models by Rs 25,000 and Rs 70,000, respectively. Tata Motors says battery cell prices have reduced in the recent past, and it has now passed that down to the customer.
- Price cut attributed to reduced battery costs
- Tata Motors EV sales grew 100 percent YoY in January 2024
Tata Nexon EV, Tiago EV prices revised
The starting price of the Medium Range (MR) Nexon EV has gone down by Rs 25,000, and it now starts at Rs 14.49 lakh. Meanwhile, the Long Range (LR) variant sees an even more significant price reduction of Rs 1.20 lakh; it now starts at Rs 16.99 lakh. Similarly, the starting price of the Tiago.ev has also gone down by Rs 70,000, and is now priced from Rs 7.99 lakh.
Meanwhile, the company has also clarified that prices of the recently launched Punch EV remain unchanged as it had already factored in the reduced battery prices at launch. Likewise, prices of the Tigor EV also remain unchanged.
It's also worth mentioning here that the Tiago EV’s nearest rival – the two-door MG Comet – also saw a significant price reduction of up to Rs 1.40 lakh recently. So, this could be a reactionary measure from Tata Motors to push sales.
EV sales outlook
Last year, EV sales in India grew 90 percent as against the passenger vehicle (PV) segment's 8 percent growth, says Tata Motors. The carmaker continues to be the market leader here, and kicked off 2024 with a 100 percent year-on-year growth in EV sales in January.
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