Tata Motors has revealed a reduction in the prices of the Nexon EV and the Tiago EV, slashing the initial costs of both models by Rs 25,000 ...
Tata Motors has revealed a reduction in the prices of the Nexon EV and the Tiago EV, slashing the initial costs of both models by Rs 25,000 and Rs 70,000, respectively. Citing the decrease in battery cell prices in the recent period, Tata Motors has extended these savings benefits on to its customers.
However, the price reduction are only for the Nexon and Tiago EV models, as the company had already factored in the reduced battery prices at launch. Likewise, prices of the Tigor EV also remain unchanged.
Speaking on the news, Chief Commercial Officer Vivek Srivatsa of Tata Passenger Electric Mobility Ltd (TPEM) in a release 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.” Srivastava added.
The new prices of Tata Nexon EV and Tata Tigor EV:
| Vehicle Model | Variant | Previous Starting Price | Revised Starting Price |
|---|---|---|---|
| Nexon EV | Medium Range (MR) | Rs 14.74 lakh | Rs 14.49 lakh |
| Nexon EV | Long Range (LR) | Rs 18.19 lakh | Rs 16.99 lakh |
| Tiago EV | – | Rs 8.69 lakh | Rs 7.99 lakh |
SALES IN JANURARY 2024
Acoording to Vahan Data, In January 2024, Tata Motors recorded sales of 5,543 vehicles, exhibiting robust growth compared to the 5,001 vehicles sold in December 2023. This remarkable performance reflects an impressive 11% month-on-month growth, contributing to a market share of 68.61%.
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