With the battery cell prices softening in recent times, Tata Motors has announced a price cut on the Nexon EV and Tiago EV, lowering their starting prices by up to Rs 1.20 lakh and Rs 70,000, respectively. The company expects prices to decrease more in the future, and it has already lowered prices for customers based on those anticipated reductions.
Tata Nexon EV, Tiago EV – New Price List
As mentioned above, the starting price of the Tata Nexon EV Medium Range (MR) has gone down by Rs 25,000, now making the prices start from Rs 14.49 lakh (ex-showroom). In the case of the Long Range (LR) version, the price reduction is more significant, featuring a drop of Rs 1.20 lakh, and now starting at Rs 16.99 lakh (ex-showroom). On the other hand, the starting price of the Tiago EV has gone down by Rs 70,000, making it start from Rs 7.99 lakh.
The variant-wise revised prices for both models are yet to be revealed.
For the recently launched Tata Punch EV, initial prices remain unchanged as they already account for expected reductions in battery prices.
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Tata offers the Tiago EV in four variants: XE, XT, XZ+ and XZ+ Tech Lux, with two battery pack options: 19.2kWh and 24kWh. The smaller battery variants feature an electric motor rated at 61PS/110Nm and claim a range of 250km. On the other hand, the larger battery variants are equipped with a motor rated at 75PS and 114Nm, boasting a range of 315km.
Speaking of the Nexon EV, it also comes with two battery pack options – 30.2 kWh and 40.5 kWh. The former comes mated with an electric motor which makes 129PS/215Nm, and claims a range of up to 325 km, and the other utilises a larger 40.5 kWh pack mated to an electric motor that delivers 144PS of max power and 215Nm of peak torque. It delivers a claimed range of up to 465 km on a single charge.
Speaking about this price reduction, Mr. 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, 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.”