Tata Nexon EV and Tiago EV Prices Slashed by Up to INR 1.2 Lakh

Published On: 13 February 2024
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The automaker has reduced the price of Nexon and Tiago EVs due to the decline in the price of battery cells.

Tata Passenger Electric Mobility (TPEM) has slashed the prices of its Nexon and Tiago EVs in India. The Nexon sub-compact electric SUV received a price cut of INR 1.2 lakh, and it now starts at INR 14.49 lakh (ex-showroom). The Long Range version of the Nexon EV is available at a price of INR 16.99 lakh (ex-showroom). The Tiago electric vehicle, on the other hand, is now available with a price cut of INR 70,000. The EV now comes at a starting price of INR 7.99 lakh (ex-showroom).

The cost of the battery cells forms a significant part of the complete price of an electric vehicle. Recently, the costs of battery cells in India have been slightly reduced, and this is one of the biggest reasons why automakers are implementing a price cut on EVs. The auto giant is not offering any price reductions on the recently launched Punch EV. The company said that the price of the Punch electric vehicle had already been reduced in accordance with the decrease in the cost of batteries.

The Chief Commercial Officer at TPEM, Mr. Vivek Srivatsa, 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."

After the price cut, the Tiago electric vehicle’s base trim now comes at INR 1 lakh. Tata Motors offers four variants of the Tiago EV: the XZ+ Lux, XT, XE, and XZ+. The EV comes in two versions: Long Range and Medium Range. Tiago has a certified driving range between 250 km and 315 km. The Nexon EV, on the other hand, is available in three trims: Empowered, Creative, and Fearless. It comes in two versions: a Medium Range with a certified range of 325 km and a Long Range version with a certified range of 465 km.