Tata reduces Nexon EV price by Rs 1.20 lakhs

Tata Passenger Electric Mobility has slashed the prices of the Tiago EV and Nexon EV with immediate effect. The corporation claims that it has passed on to the consumers the savings from lower battery pricing.

Prices for the Nexon EV have been lowered by Rs. 1.20 lakh, meaning that the medium-range variant now starts at Rs. 14,49 lakh, while the long-range version now starts at Rs. 16.99 lakh (ex-showroom).

In the recently launched reports, the company has announced different prices for different variants of Nexon.ev MR and Nexon.ev LR. The reduced price difference by the EV OEM varies from RS 20,000 ( Nexon.ev MR Fearless+) to 1,2000 (Nexon,ev LR Fearless). 

Speaking at the event, TPEM Chief Commercial Officer Vivek Srivatsa stated, "A significant portion of an electric vehicle's total cost is related to its battery.” Given that the cost of batteries has recently decreased and that this trend is likely to continue. Moreover, He further stated, “We have made the proactive decision to transfer the gains directly to our consumers. We think that the best-selling Nexon EV and Tiago EV become an even more alluring offer to draw in a wider client base at these reasonable prices.”