Price Drop: Tata Tiago EV & Nexon EV Now Up to Rs. 1.2 Lakh Cheaper!

Tata has swiftly responded to the decline in battery prices by immediately reducing the prices of both the Nexon EV and Tiago EV. Today, Tata Passenger Electric Mobility Ltd (TPEM) officially announced price reductions for these two models.

The goal is to enhance the accessibility of zero-emission vehicles for Indian consumers. The prices of the 2024 Tata Nexon EV have been slashed by up to Rs. 1.2 lakh, while the starting price of the Tata Tiago EV now stands at Rs. 7.99 lakh (ex-showroom), marking a decrease of up to Rs. 70,000.

starting price of the Tata Tiago EV

Tata clarified that the recently launched Punch EV will maintain its current prices, as the benefits of the reduced battery prices have already been incorporated. Positioned below the Nexon EV in Tata’s expanding EV lineup, the Tata Punch EV is currently priced between Rs. 10.99 lakh and Rs. 15.49 lakh (ex-showroom).

Following the facelift, the Tata Nexon EV’s starting price is now Rs. 14.49 lakh after a reduction of Rs. 25,000, while the Nexon EV Long Range variant’s base model is priced at Rs. 16.99 lakh, reflecting a significant reduction of Rs. 1.2 lakh (both prices, ex-showroom). Vivek Srivatsa, Chief Commercial Officer of TPEM, commented on the price reduction:

“Battery costs represent a substantial portion of an EV’s overall cost. With recent declines in battery cell prices and the potential for further reductions, we have chosen to pass on these benefits directly to our customers.”

Tiago EV and Nexon EV

Tata believes that these price reductions will make the Tiago EV and Nexon EV more accessible to a wider range of consumers in India. In 2023, the passenger electric vehicle segment experienced over 90% growth, compared to the 8% growth in the PV sector. This growth trend has continued into the current calendar year, with EV sales registering a 100% year-on-year increase in the first month, with TPEM holding over 70% market share.

By Tarun Saini

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