Tata Motors’ subsidiary Tata Passenger Electric Mobility (TPEM) has reduced the prices of its Nexon. ev and Tiago.ev. Nexon.ev prices have been reduced by up to ₹ 1.2 lakh while the Tiago.ev prices have been reduced by up to ₹ 70,000. New prices for Nexon.ev MR (Medium Range) start from ₹ 14.49 lakh, Nexon.ev LR (Long Range) start from 16.99 lakh and of Tiago.ev start from ₹ 7.99 lakh.
The company has cited the reduction in battery cost for taking this step. Speaking about the 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 recently and considering their potential reduction in the foreseeable future, we have chosen to proactively pass on the resulting benefits directly to customers. While EVs have proliferated over the last few years, our mission is to accelerate their mainstream adoption by making them more accessible nationwide. Our portfolio already offers a wide choice of body styles, range and price points for our smart, feature-rich EVs. We believe that at these accessible prices, the best-selling Nexon.ev and Tiago.ev become an even more compelling proposition to attract a larger pool of customers.”
Here is the revised price list
According to reports available online, prices of lithium-ion battery fell by around 14% last year and the trajectory is downwards with commodity prices cooling off.
