Tata Motors has rolled out a subscription basis ownership program for its electric offering, Nexon EV last month. For this, the Indian maker has collaborated with Orix Auto Infrastructures. The carmaker has now slashed the subscription prices till 30 November 2020 for the first 100 customers. Also, Tata has updated the minimum tenure period from 18 to 12 months.
Let's have a look at the updated rates/plan:-
Monthly Installments* (Old)
Monthly Installments* (New)
12 months (Earlier it was 18 months)
Rs 47,900 for 18 months plan
*Inclusive of taxes.
Tata is offering a discount of Rs 7,000 to Rs 7,500 depending upon the subscription tenure for a limited period. Currently, this service is only available in five cities: Delhi/NCR, Pune, Mumbai, Bengaluru, and Hyderabad. With the revised rates, Tata hasn't made any change in the variant available under the subscription plan. The company continues to offer only the mid-spec XZ+ trim under this program which is priced at Rs 14.99 lakh (ex-showroom).
About the subscription plan
Under this scheme, one has to pay a refundable security deposit of Rs 50,000 to start with, and monthly subscription charges will follow after that as per the tenure opted for. The plan offers the convenience of owning Tata’s flagship electric offering on a leasing plan, for a minimum period of 12 months which was 18 months earlier.
What services can you avail with the subscription?
- Included as a part of the subscription package, Tata will provide home charger with up to 15m of wiring, and will also take care of routine services and maintenance activities.
- There is an upper limit to the number of kilometers that the car can be driven in a month and it stands at 1500 km.
- The annual ceiling stands at 18,000 kilometers and if the beneficiary intends to drive past the limit, per kilometer premium is charged at Rs 7.
- For remote locations, where charging may not be available, Orix will provide the option of availing a 30% discount on a self-drive, IC Engine vehicle.
- The minimum tenure also happens to be the lock-in period of the subscription. It means that if the user returns the car before completion of this lock-in period, the user will have to pay a cancellation fee equivalent to monthly subscription fees and 25% of the due subscription fee, until completion of tenure.
- Orix will also provide the user with the option of buying the unit which they have been using if they want so.
About Tata Nexon EV
The Nexon EV is the first Tata offering to use Ziptron EV powertrain technology. It gets a 30.2kWh lithium-ion battery which is further coupled to an electric motor that churns out a max power of 129PS and a peak torque of 245Nm. The battery pack is IP67 waterproof and comes with an 8-year standard warranty. It can be charged from 0-80% in just 60 minutes with the help of a DC fast charger. On the other hand, the home wall box charger takes up to 8 hours to charge it from 20 to 80%. The Nexon EV delivers a claimed range of 312km.