Tata Launches India’s Cheapest Electric Car At Rs 8.2 Lakh: Tata Tiago EV Specifications, USPs & More
Considering the developing EV market, the country’s only electric vehicle (EV) maker, Tata Motors launched India’s lowest priced electric car at a little over $10,000 on Wednesday.
Tata’s Tiago EV Launch
This latest move from Tata looks to draw in more buyers.
So far, the carmaker leads India’s EV market, thanks to the government subsidies and high tariffs on imports.
Yes we are talking about Tata’s Tiago EV.
This is an electric version of its popular Tiago hatchback which will have a sticker price starting from 849,000 rupees ($10,370).
The move comes when Its domestic rival Mahindra & Mahindra is in talks with investors to raise up to $500 million for its EV unit as it plans to launch its first electric sport-utility vehicle (SUV) in January.
It is noteworthy here that the bulk of cars sold in India, the world’s fourth-largest car market, are priced below $15,000.
Further in comparison it seems to be much cheaper than India’s next most affordable EV, the electric version of Tata’s Tigor compact sedan which starts at around $14,940.
Although, China has some EV models starting at as low as 32,800 yuan ($4,525).
Low Operating Cost
According to the managing director of Tata Motors Passenger Vehicles and its EV subsidiary, Shailesh Chandra, the Tiago EV’s operating cost is expected to be about a seventh of the gasoline version, making it a “compelling proposition”.
He said “We are not chasing to be the lowest cost,”.
Further adding the aim was to pack in connected car features and other advanced technologies while keeping the price accessible.
In his opinion, the car’s “disruptive” pricing would open new opportunities and markets for Tata in smaller towns and cities, where buyers tend to be more price-conscious.
More EVs In Future
The carmaker raised $1 billion from TPG for its EV unit at a $9.1 billion valuation last year.
It has outlined plans to launch 10 electric models by March 2026.
In a closer look, India’s car market is tiny compared to its population, with electric models making up just 1% of total car sales of about 3 million a year.
It opens a way for further opportunities as the government wants to grow this to 30% by 2030.
The cheapest version of the newly launched Tiago EV which is also the third electric car from Tata will have a driving range of 250 kilometres (155 miles) on a single charge.
Similarly its more expensive version will offer a range of 315 km.
Chandra said, “There’s always a challenge of how we strike the right price,” adding the current sticker price was only for the first 10,000 buyers.