Tata Passenger Electric Mobility Announces Significant Price Reduction for Nexon EV and Tiago EV

Tata Passenger Electric Mobility (TPEM) has recently made an exciting announcement, reducing the prices of both the Nexon EV and Tiago EV. This move comes as a result of a decrease in battery prices, which TPEM has decided to pass on directly to its customers. The reduction in prices is set to take effect immediately, making these electric vehicles even more accessible to a larger pool of customers.

The prices of the Nexon EV have been reduced by an impressive Rs. 1.20 lakh. As a result, the medium-range version of the Nexon EV now starts at Rs. 14.49 lakh, while the long-range version starts at Rs. 16.99 lakh (ex-showroom). It is important to note that TPEM has yet to release the updated prices for the electric sub-four-metre SUV across its different variants.

Unlike the Nexon EV and Tiago EV, TPEM has decided to keep the prices of the Punch EV unchanged. The reason behind this decision is that the prices of the Punch EV had already taken into account the anticipated reduction in battery prices for the foreseeable future.

Vivek Srivatsa, Chief Commercial Officer of TPEM, expressed his thoughts on this significant price reduction. He highlighted the substantial contribution of battery costs to the overall price of an electric vehicle. With the recent decrease in battery cell prices and the potential for further reductions, TPEM saw an opportunity to proactively benefit its customers by lowering the prices of the Nexon EV and Tiago EV. Srivatsa believes that these accessible prices will make the Nexon EV and Tiago EV an even more attractive proposition for potential buyers.

This move by TPEM not only showcases its commitment to providing affordable and accessible electric vehicles but also demonstrates its willingness to adapt to changing market conditions. With lower price points, the Nexon EV and Tiago EV are poised to attract a larger customer base, further contributing to the growth of electric mobility in India.

FAQ:

1. What is the recent announcement made by Tata Passenger Electric Mobility (TPEM)?
TPEM has announced a reduction in prices for both the Nexon EV and Tiago EV due to a decrease in battery prices.

2. Why did TPEM decide to lower the prices of these electric vehicles?
TPEM decided to pass on the decrease in battery prices directly to its customers, making the vehicles more accessible to a larger pool of customers.

3. How much have the prices of the Nexon EV been reduced?
The prices of the Nexon EV have been reduced by an impressive Rs. 1.20 lakh. The medium-range version now starts at Rs. 14.49 lakh and the long-range version starts at Rs. 16.99 lakh (ex-showroom).

4. Will the prices of the Punch EV be reduced as well?
No, TPEM has decided to keep the prices of the Punch EV unchanged, as they had already taken into account the anticipated reduction in battery prices.

5. What is the Chief Commercial Officer of TPEM, Vivek Srivatsa’s opinion on the price reduction?
Vivek Srivatsa believes that the decrease in battery costs played a substantial role in the overall price of electric vehicles. TPEM saw an opportunity to benefit its customers by lowering the prices of the Nexon EV and Tiago EV, making them more attractive to potential buyers.

Definitions:

– TPEM: Tata Passenger Electric Mobility, a company that produces electric vehicles.
– Nexon EV: An electric vehicle produced by TPEM.
– Tiago EV: An electric vehicle produced by TPEM.
– Punch EV: An electric vehicle produced by TPEM.

Related Links:
Tata Motors
Tata Motors Electric Vehicles