Tata Motors’ electric vehicle (EV) unit announced a significant price reduction on Tuesday, marking the first instance of an electric carmaker in India cutting prices. The move comes as the carmaker passes on benefits from reduced battery prices to its customers.
The Passenger Electric Mobility division of Tata Motors will now offer the top-selling Nexon EV at a starting price of Rs 14.49 lakh. The price of the Long Range Nexon EV (465 km) will begin from Rs 16.99 lakh.
Additionally, the company has reduced the price of its electric small car Tiago by Rs 70,000, now available at Rs 7.99 lakh.
Vivek Srivatsa, Chief Commercial Officer at Tata Motors, stated, “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.”
He further added, “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.”
