Tata.ev lowers costs by up to INR 1.2 lakh in response to a drop in battery pricing.

nexon ev

The Nexon ev and Tiago ev electric vehicles (EVs) are now available for as little as INR 1.2 lakh and INR 70,000 less, respectively, thanks to a price reduction from Tata Passenger Electric Mobility Ltd (TPEM), a Tata Motors subsidiary that spearheaded the electric car revolution in India.
The starting pricing of Nexon EV is currently INR 14.49 lakh, while the price of Nexon EV long range (465 km) is INR 16.99 lakh. According to the firm, the Tiago ev base model is now available for INR 7.99 lakh.
Punch.ev’s opening prices are still in place because they already account for declining battery prices in the near future. Punch.ev was just launched.

“A large amount of an electric vehicle’s overall cost is related to battery costs,” TPEM Chief Commercial Officer Vivek Srivatsa stated. In light of the recent and anticipated decrease in battery cell prices, we have made the proactive decision to transfer the gains directly to our clients. Even if the number of electric vehicles has increased significantly in recent years, our goal is to hasten their national acceptance by increasing their accessibility. Our portfolio of feature-rich smart electric vehicles already includes a large variety of body shapes, ranges, and pricing. We think that the best-selling Nexon and Tiago eV become a more appealing offer to draw in a larger client base with these reasonable costs.

The industry’s total growth for passenger cars is being greatly surpassed by the rapid expansion of electric vehicles. In contrast to the PV industry’s 8% growth, the electric vehicle sector is expected to rise by over 90% by 2023. Electric vehicle sales saw a 100% year-over-year increase in January 2024, indicating that this growing momentum has persisted throughout the fiscal year 2024. According to a news release from the firm, TPEM leads the market in this expanding category with a market share of over 70%.

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