Tata Tiago EV and Nexon EV are now more affordable than before
Tata Passenger Electric Mobility has cut the costs of the Tiago and Nexon EVs with immediate effect. The Nexon EV will be reduced by up to Rs 1.20 lakh, beginning at Rs 14.49 lakh, and the Tiago EV by Rs 70,000, presently priced at Rs 7.99 lakh (ex-showroom).
Prices for the Nexon EV have been cut by Rs 1.20 lakh, with the medium-range variant now starting at Rs 14.49 lakh and the long-range version starting at Rs 16.99 lakh (ex-showroom). Prices for the recently released Punch EV remain constant since they already account for anticipated battery price reductions.
The Nexon EV has two differnt variantions, Mid range (MR) and Long range (LR). These verisons have a claimed range of 325km and 465km, respectively. The electric motor paired with a 30.2kWh battery pack generates 129PS, while the power output is rated at 145PS with the larger 40.5kWh unit. However, the torque output of 215Nm remains identical, irrespective of the battery pack. Meanwhile, the EV can be charged with either a 7.2kW AC Type-2 or a 50kW DC CCS2 charging. Read our full review of the Nexon EV.
The Tata Tiago EV too gets two battery and range options. It uses the firm's Ziptron high-voltage electric architecture in a larger 24 kWh capacity to return an MIDC-certified range of 314 km. A smaller 19.2 kWh liquid-cooled battery returns 250 km of range. The larger pack returns 75PS and 114Nm while the smaller one makes 61PS and 104Nm. Read our full review of the Tiago EV.
Tata also claims that EVs have demonstrated remarkable growth momentum, significantly exceeding the entire passenger car sector growth. In fiscal year 2023, the EV segment expanded by more than 90 percent, while the PV industry grew by just 8 percent. This growing momentum has maintained in fiscal year 2024, with EV sales increasing by 100 percent year on year in January 2024. With a global share of more than 70 percent, TPEM leads this rapidly expanding industry.
Speaking about this price reduction, Mr. Vivek Srivatsa, Chief Commercial Officer, TPEM, 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."
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