Two of India’s best-selling passenger electric vehicles (EVs) have received a fillip in the form of a substantial price cut. Tata Motors has announced a reduction of up to Rs 1.20 lakh in the prices of two of its top-selling battery-powered models, the Tiago EV and Nexon EV. Citing a drop in global battery cell costs, Tata has slashed the price of the Nexon EV – which is the country’s best-selling passenger EV – so it now starts at Rs 14.49 lakh for the base Medium Range (MR) version, a reduction of Rs 25,000. The bigger difference is with the entry-level Long Range (LR) Nexon EV, which now starts at Rs 16.99 lakh – a full Rs 1.20 lakh lower than before.
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The Tata Tiago EV, meanwhile, now starts at Rs 7.99 lakh, which is Rs 70,000 lower than before (all prices, ex-showroom). The XT MR variant costs Rs 35,000 lower, while the XT LR is now Rs 30,000 cheaper. The price difference for the top-spec XZ Plus and XZ Plus Tech variants is Rs 20,000. As for the Nexon EV, the Fearless MR, Fearless Plus MR and Fearless Plus S MR trims see a Rs 20,000 price reduction, while the Empowered MR is priced Rs 35,000 lower than before. All Nexon EV LR variants see a price cut of Rs 1.20 lakh barring the top-spec Empowered LR, which sees its price slashed by Rs 70,000.
For those curious, this price drop isn’t applicable to any other Tata EVs, including the Punch EV, as Tata says the introductory prices for the Punch EV already factored in the falling battery cell costs.
The long-range Nexon EV now starts a full Rs 1.20 lakh lower than before.
Commenting on the price drop, Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility (TPEM), said, “Battery costs constitute a substantial part of the overall cost of an EV. 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.”
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The timing of the price reduction is interesting, given the Tata Nexon EV’s closest rival, the Mahindra XUV400, recently received a significant update, and at Rs 17.49 lakh (for the long-range 39.4 kWh version), undercut the Nexon EV LR by a big margin – roughly Rs 70,000. With the price revision, the Nexon EV LR now starts Rs 50,000 lower than the long-range XUV400.
One of the most affordable passenger EVs in India, the MG Comet, too received a price cut a few days ago, bringing the dinky little electric city car’s starting price down to Rs 6.99 lakh, a full Rs 1.70 lakh less than the entry-level Tiago EV. With the price reduction, the base Tiago EV is once again only Rs 1 lakh further than the entry-level Comet.
