Tata Motors has made a significant move in the electric vehicle (EV) market by announcing a price reduction of up to ₹1.2 lakh for its Nexon and Tiago EV models. This strategic decision comes in response to the recent decrease in battery cell prices, a crucial component in EV manufacturing. While the prices of the newly introduced Punch EV remain unchanged, Tata’s adjustment aims to make EVs more accessible to a wider audience.
Enhancing Affordability and Accessibility:
Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility Ltd (TPEM), emphasized the importance of reducing battery costs to make EVs more affordable.
He stated, “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.”
This initiative aligns with Tata’s mission to accelerate the mainstream adoption of EVs by offering a diverse portfolio of smart, feature-rich vehicles at competitive price points. The Tata Tiago EV, initially launched in October 2022 at an introductory price of ₹8.49 lakh (ex-showroom), now starts at ₹7.99 lakh, catering to varying consumer needs with two battery pack options, ensuring a range of 250 km to 315 km. As Tata continues to prioritize affordability and accessibility in the EV market, these price reductions aim to bolster customer interest and drive widespread adoption of electric vehicles across India.
