Tata Motors drops Nexon and Tiago EV costs by up to Rs 1.2 lakh.

Tata Motors plans to pass on the savings from lower battery prices to its customers by offering price reductions of up to Rs 1.2 lakh on a number of electric vehicle (EV) models.
Three of Tata Motors' long-range versions of the company's best-selling Nexon.ev have had their pricing lowered by Rs 1.2 lakh each. Instead of starting at Rs 18.19 lakh as before, it now starts at Rs 16.99 lakh. In the meantime, Tiago.ev's starting pricing is now Rs 7.99 lakh. Tiago's prices have dropped by Rs 70,000.

According to a press release from the TPG-backed company, "We have chosen to proactively pass on the resulting benefits directly to customers with battery cell prices having softened in the recent past and considering their potential reduction in the foreseeable future." Vivek Srivatsa is the Chief Commercial Officer.
 Tata Motors has lowered its pricing, but the market is becoming more competitive and demand is declining. On February 6, MG Motor India, the industry leader in e-passenger vehicles, announced price reductions.

The standard ZS EV model now costs Rs19.98 lakh instead of Rs22.8 lakh, and the Comet's price dropped by Rs1 lakh to Rs7 lakh. The corporation said that greater localization and long-term major commodity cost rationalization are the reasons for its pricing reductions.


According to Shailesh Chandra, the managing director of Tata Motors Passenger Vehicles Ltd & Tata Passenger Electric Mobility Ltd, the business anticipates that as the base grows, EV sales in India would moderate to 40–45 percent this year.

"EV growth was starting from a very low basis two years ago. It grew by almost 100% in the previous calendar year, but the base is currently expanding. At the close of this fiscal year, it is anticipated to be between 90,000 and 1 lakh. Based on this strong foundation, I believe the industry's growth would slow to roughly 40% to 45%," Chandra remarked.