Tata slashes Nexon EV and Tiago EV prices by up to 1.2 lakhs; new price and details

It’s raining discounts on compact budget EVs in India. After MG reduced the price of its micro EV hatchback, Tata has now slashed the price of two of its best-selling EVs in India. Tata Motors has cut the ex-showroom prices of its Tiago EV and Nexon EV, making them more affordable for interested EV buyers.

Empowering consumers with affordability in mind, the leading e-car manufacturer announced a noteworthy reduction in battery prices. Effective immediately, the Nexon EV is set to start from Rs 14.49 lakh, while the Tiago EV will be available from Rs 7.9 lakh, paving the way for a more accessible electric driving experience. With these price cuts, Nexon EV’s price is down by up to Rs. 1.2 lakhs and Tiago EV’s price has been slashed by up to Rs. 70,000.

Tata Motors’ new price strategy comes right after the price drop on the MG Comet EV. The micro EV hatch received a massive price cut of between Rs 90,000 and Rs 1.4 lakh, bringing the ex-showroom price to Rs 6.99 lakh.

 

Notably, EV manufacturers are slashing the prices of their entry-level electric vehicles due to recent drops in battery cell prices. Tata Motors released a statement accompanying the price cuts.

“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,” said Vivek Srivatsa, chief commercial officer, Tata Passenger Electric Mobility (TPEM).

The Tata Tiago and Nexon EVs stand out as prominent choices in India’s electric vehicle market. Positioned as a mid-range premium option, the Nexon EV boasts flagship-grade features. On the other hand, the Tiago EV prioritizes delivering a practical city commuting experience, making it an ideal choice for consumers seeking a value-for-money EV hatchback.

It is worth noting that Tata has not made any price reductions to its Tigor EV, which starts at Rs. 12.49 lakh and goes up to 13.75 lakhs ex-showroom.

Tata is giving tough competition to other EV manufacturers in India. With only three EVs in its portfolio, Tata has managed to capture a big chunk of the Indian EV market. Reports suggest that Tata Motors’ EV sales grew by 69 percent year-on-year to 6,979 units (including exports).

The latest price cuts will force other EV makers to rethink their EV pricing strategy for the price-conscious Indian market. At Techtrackr, we are now excited to see how BYD will price its premium sedan- Seal EV in India, which is a premium flagship EV sedan from the company’s Oceal line-up. BYD will unveil the Seal sedan EV in India on March 5, 2024.