In this market of high prices, customers find joy when even a small discount is offered. In February, many car companies are providing attractive discounts on their popular models, leading to a long queue of buyers this month. Tata Motors has reduced the prices of its two electric vehicles, Tata Tiago EV and Nexon EV, by 1.20 lakh rupees.
The question arises: why such a significant price reduction? The international drop in battery cell prices has affected the domestic market as well, leading to a decrease in the prices of these popular battery models. The mid-range variant of Nexon EV now starts at 14.49 lakh rupees, down by 25,000 rupees. The entry-level long-range version of Nexon EV now costs 16.99 lakh rupees (ex-showroom), reduced by 1.20 lakh rupees.On the other hand, the price of Tata Tiago EV has decreased by 70,000 rupees, making it now 7.99 lakh rupees (ex-showroom). However, the updated prices for all variants of these two vehicles are yet to be announced by Tata.
Regarding this price reduction, Tata’s Chief Commercial Officer for Passenger Electric Mobility, Vivek Srivastava, stated, “The price of an electric vehicle is significantly influenced by the cost of its battery. The reduction in the price of battery cells has resulted in a decline in the overall vehicle cost.” It’s worth noting that this price reduction does not extend to other EV models from Tata, such as Punch EV and other variants of Tiago EV.
In the context of electric vehicles, Tata faces competition from Mahindra XUV400, priced at 17.49 lakh rupees. Currently, the most affordable electric vehicle in India is MG Comet EV, which recently reduced its price by 1.70 lakh rupees, making it available for 6.99 lakh rupees. This places it more than one lakh rupees below the current price of Tiago EV.
