Tata Motors reduced Tata Tiago & Nexon EV prices by Rs. 1.2 Lakh
Tata has announced a reduction in prices for its Tiago EV and Nexon EV models, effective immediately. This decision comes as Tata aims to make zero-emission vehicles more affordable for domestic consumers passing on the benefits of reduced battery prices.
Tata Tiago EV New Price
The prices of the 2024 Tata Nexon EV have been reduced by up to Rs. 1.2 lakh, while the entry-level variant of the Tata Tiago EV now starts at Rs. 7.99 lakh (ex-showroom) after a price reduction of up to Rs. 70,000. Tata has stated that the recently launched Punch EV will maintain its existing prices, as the benefits of the battery price reduction have already been factored in.
The Tata Punch EV starts at Rs. 10.99 lakh and goes up to Rs. 15.49 lakh (ex-showroom) for the top-end variant. It will sit below the Nexon EV, the electric micro SUV is part of Tata’s expanding EV lineup, which will soon include the new electrified Curvv model by mid-calendar year.
Tata Nexon EV New Price
Following the price adjustment, the Tata Nexon EV facelift now starts at Rs. 14.49 lakh, representing a reduction of Rs. 25,000, while the base variant of the Nexon EV Long Range starts at Rs. 16.99 lakh, thanks to a significant reduction of Rs. 1.2 lakh (both prices, ex-showroom). Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility Ltd. (TPEM), commented on the price drop, highlighting the role of reduced battery costs in making EVs more affordable.
Tata expects the price reduction to broaden the accessibility of the Tiago EV and Nexon EV to a wider range of consumers in India. In 2023, the passenger electric vehicle segment witnessed a growth of over 90 percent, outpacing the 8 percent growth recorded by the conventional passenger vehicle sector. This trend has continued in the current calendar year, with EV sales registering a 100 percent year-on-year growth in the first month, with TPEM commanding over 70 percent market share.