Tata Motors’ subsidiary Tata Passenger Electrical Mobility (TPEM) has decreased the costs of its Nexon.ev and Tiago.ev. Nexon.ev costs have been decreased by upto Rs 1.2 lakh whereas the Tiago.ev costs have been decreased by upto Rs 70,000. New costs for Nexon.ev MR (Medium Vary) begin from Rs 14.49 lakh, Nexon.ev LR (Lengthy Vary) begin from 16.99 lakh and of Tiago.ev begin from Rs 7.99 lakh.
Firm has cited discount in battery value for taking this step. Talking concerning the value discount, Mr. Vivek Srivatsa, Chief Industrial Officer, TPEM, stated, “Battery prices represent a considerable a part of the general value of an EV. With battery cell costs having softened within the latest previous and contemplating their potential discount within the foreseeable future, we’ve chosen to proactively cross on the ensuing advantages on to prospects. Whereas EVs have grown quickly over the previous couple of years, our mission is to speed up the mainstream adoption of EVs by making them extra accessible nationwide. Our portfolio already gives a large alternative of physique types, vary and value factors for our sensible, characteristic wealthy EVs. We imagine that at these accessible costs, the best-selling Nexon.ev and Tiago.ev grow to be an much more compelling proposition to draw a bigger pool of consumers.”
Right here is the revised value listing
In response to experiences obtainable on-line, costs of lithium-ion battery fell by round 14% final yr and the trajectory is downwards with commodity costs cooling off.
Earlier this month, MG Motors too lower costs of its MG Comet EV ranging between Rs 99,000 and Rs 1.40 lakh,and launched a extra reasonably priced variant ZS EV “Government” at a value of Rs 18.98 lakhs.
Firm’s Deputy Managing Director Gaurav Gupta too had cited “long run key commodities value rationalisation” as the rationale behind the transfer.