Tata Motor’s EV Price Reduced

Tata Motor’s EV Price Reduced up to Rs 1.2Lakhs

In a bold and revolutionary move aimed at reshaping the electric vehicle (EV) landscape in India, Tata Passenger Electric Mobility Ltd (TPEM), a pioneering subsidiary of Tata Motors, has embarked on a journey to democratize EV ownership. Positioned as the vanguard of India’s electric vehicle evolution, TPEM has announced significant price reductions for its flagship EV offerings, the Nexon-Ev and Tiago-Ev. This groundbreaking decision, effective immediately, seeks to empower Indian consumers with more accessible options and drive the widespread adoption of electric mobility across the nation.

The Nexon-Ev, celebrated as India’s most feature-rich EV, now flaunts a starting price as enticingly low as Rs. 14.49 Lakh. This substantial reduction, which can amount to up to Rs. 1.2 Lakh, makes the Nexon-Ev an irresistible choice for discerning buyers in search of cutting-edge technology and eco-friendly mobility solutions. Renowned for its advanced features and impressive long-range capabilities, the Nexon-Ev solidifies its position as a frontrunner in the EV market, promising an exhilarating driving experience coupled with sustainable innovation.

Meanwhile, TPEM’s Tiago-Ev, hailed as India’s fastest-selling EV, receives a remarkable price adjustment, with its base model now available at an unprecedented price of Rs. 7.99 Lakh. Following a reduction of up to Rs. 70,000, the Tiago-Ev exemplifies TPEM’s unwavering commitment to affordability and accessibility in electric mobility. This move not only makes the Tiago-Ev an attractive option for urban commuters but also expands the horizon of electric vehicle ownership to a wider audience across the nation.

Delving into the rationale behind this strategic maneuver, Mr. Vivek Srivatsa, Chief Commercial Officer of TPEM, sheds light on the pivotal role of battery costs in shaping the affordability of EVs. With recent softening trends in battery cell prices and the promise of further reductions in the future, TPEM seizes the opportunity to pass on these benefits directly to customers. This aligns seamlessly with TPEM’s overarching mission to drive mainstream adoption of EVs nationwide by making them more accessible and appealing to a diverse range of consumers.

Mr. Srivatsa underscores TPEM‘s unwavering dedication to offering a diverse portfolio that caters to varying preferences, encompassing everything from body styles to price points. With the Nexon-Ev and Tiago-Ev now available at such compelling prices, TPEM aims to cast a wider net and attract a broader customer base, thereby accelerating the transition towards sustainable mobility solutions in India.

The timing of these price reductions couldn’t be more opportune, as the EV segment continues to outpace the overall passenger vehicle industry in growth. In CY2023, EV sales surged by over 90%, in stark contrast to the modest 8% growth recorded by the PV industry. This momentum persists into CY2024, with January witnessing an impressive 100% year-on-year growth in EV sales.

With TPEM commanding over 70% market share in this burgeoning segment, the company emerges as the undisputed leader in India’s EV landscape. Poised to shape the future of mobility with innovation, accessibility, and sustainability at its core, TPEM remains steadfast in its commitment to driving positive change through electric mobility, one affordable EV at a time. As the nation marches towards a greener tomorrow, TPEM stands at the forefront, guiding the way towards a brighter and more sustainable future for all.

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