In 2024, Tata Motors, India's leading electric car manufacturer, announced significant price reductions for its popular electric vehicles, the Nexon EV and Tiago EV. These reductions apply only to the electric variants and are not applicable to their internal combustion engine counterparts.
Tata Tiago Electric (Tiago EV)
In 2024, Tata has reduced the prices of its electric car variants, making them more affordable. The Tata Tiago Electric, known as Tata's most budget-friendly electric car and the most economical 5-door electric car in India, has seen significant price cuts. Previously starting at Rs. 8.69 lakh (ex-showroom), the base XE MR model now costs Rs. 7.99 lakh, reflecting a reduction of Rs. 70,000 or 8.06%. Similarly, the XT MR variant now costs Rs. 8.99 lakh after a Rs. 35,000 discount. The LR variants, starting from Rs. 9.99 lakh for the XT LR, have received reductions ranging from Rs. 20,000 to Rs. 30,000. The price range for the Tiago EV now extends up to Rs. 11.39 lakh (ex-showroom).
Tata Nexon Electric (Nexon EV)
Moving on to the 2024 Tata Nexon Electric, the Medium Range variants have also seen price adjustments. The Creative+ MR variant, previously priced at Rs. 14.79 lakh, now costs Rs. 14.49 lakh after a Rs. 25,000 reduction. The Fearless MR, Fearless MR, and Fearless As MR variants all received Rs. 20,000 price cuts. The Empowered MR variant sees a Rs. 35,000 decrease, representing a 1.96% reduction. As for the Long Range variants, Fearless LR, Fearless+ LR, and Fearless SLR models have all been reduced by Rs. 1.2 lakh, resulting in a 6.25% to 6.6% reduction in ex-showroom prices. The top-tier Empowered + LR variant now costs Rs. 70,000 less. Consequently, Tata Nexon EV prices now range from Rs. 14.49 lakh to Rs. 19.29 lakh (ex-showroom), providing more affordability and accessibility to electric vehicle buyers.
Reason for Price Reductions
Tata Motors cites decreased input costs related to batteries as the reason behind the price reductions. Chief Commercial Officer at TPEM, Mr. Vivek Srivatsa, mentioned that the company is passing on the benefits to their customers. Tata Motors is not the only one savage prices, Mahindra and MG are also trimming their tags, staying sharp in a market that's quickly supportt more affordable electric rides.
With Tata Motors savaging their electric vehicle prices, maintaining eco-friendly rides just got easier, moving a wave of EV excitement across India's roads. Tata Motors is really stepping up their game, rolling out budget-friendly advanced green cars to keep ahead in the market race.
Impact on Electric Vehicle Market
Tata Motors' price cut on their electric vehicles is set to appeal to the eco-conscious and budget-minded alike, promising both environmental and economic perks. People's preference for cleaner vehicles over old, gas-guzzlers is probably going to change as electric cars become more affordable, which will help all of us breathe a little better.
Tata Motors is cutting their electric car prices to welcome more buyers, appealing not just to the green-minded crowd but also those looking at cutting down on fuel and upkeep expenses in the long haul. Electric cars are becoming more affordable so we are likely to see people give up their gas-guzzlers for these clean rides, reducing the harmful emissions that pollute the environment.