Mumbai, February 13, 2024 – In a bold move that’s sparking joy among eco-conscious drivers across India, Tata Passenger Electric Mobility Ltd (TPEM), the driving force behind India’s electric vehicle (EV) surge, has announced a thrilling price drop on its most popular electric rides – Nexon.ev and Tiago.ev. This price cut aims to supercharge the adoption of electric vehicles, making them a more attractive option for a broader audience.
In a current update electrifying the EV market, TPEM revealed that the Nexon.ev, celebrated as India’s most feature-packed electric vehicle, will see a price reduction of up to Rs. 1.2 Lakh. Meanwhile, the Tiago.ev, known for outselling all other electric cars, isn’t far behind with a price cut of up to Rs. 70,000. With the base model of the Tiago.ev now starting at an unprecedented Rs. 7.99 Lakh, it’s clear TPEM is not just playing around.
For those eyeing the long-range Nexon.ev, which boasts a 465km per charge capability, it’s now more accessible at a starting price of Rs. 16.99 Lakh. However, the Punch.ev, the latest addition to the Tata EV family, will maintain its launch price, already reflecting anticipated savings from future battery cost reductions.
Vivek Srivatsa, Chief Commercial Officer of TPEM, shared the company’s forward-thinking strategy, highlighting the significant impact of battery cost reductions on the overall price of electric vehicles. By passing these savings directly to the customers, TPEM is not only fueling the dreams of potential EV owners but also reinforcing its commitment to spearhead the green revolution in India.
The price cut is seen as a strategic move to accelerate EV adoption across the nation, offering a diverse range of models that cater to various needs, preferences, and budgets. With the newly adjusted prices, the already popular Nexon.ev and Tiago.ev are expected to lure an even larger crowd, driving TPEM’s mission to populate Indian roads with cleaner, more sustainable vehicles.
With electric vehicles gaining incredible traction in India, outperforming the overall passenger vehicle industry’s growth, TPEM’s market dominance is more apparent than ever. Boasting a staggering 70% market share, the company is at the forefront of the EV revolution, with sales numbers that continue to double year over year.
As TPEM plugs into the future with its latest price reductions, the company is set on making electric vehicles not just an environmentally friendly choice, but a financially savvy one too. The road ahead looks electrifyingly promising for Indian consumers ready to switch gears into the eco-friendly lane.