Tata Nexon EV, Tiago EV price reduced by up to Rs. 1.2 Lakh: Check discount amount, ex-showroom price

Tata EV Price Drop: Tata Passenger Electric Mobility Ltd (TPEM), a subsidiary of Tata Motors, has announced a significant reduction in prices for two of its best-selling electric vehicles, Nexon.ev and Tiago.ev. The move comes as part of Tata's aim to making EVs more accessible to Indian customers, the company claims.

Nexon EV price in India

Effective immediately, the Nexon.ev will see a price reduction of up to Rs. 1.2 lakh, with the base model now starting at Rs. 14.49 lakh. Meanwhile, the long-range variant of Nexon.ev, offering a range of 465km, will now be available from Rs. 16.99 lakh.

Tiago EV price in Delhi

the Tiago.ev, one of India's fastest-selling EV, will now have a starting price of Rs. 7.99 lakh, marking a reduction of up to Rs. 70,000.

Punch EV ex-showroom price

Prices of the recently launched Punch.ev remain unchanged.

Speaking about this price reduction, Vivek Srivatsa, Chief Commercial Officer, TPEM, said, “Battery costs constitute a substantial part of the overall cost of an EV. With battery cell prices having softened in the recent past and considering their potential reduction in the foreseeable future, we have chosen to proactively pass on the resulting benefits directly to customers."

"While EVs have grown rapidly over the last few years, our mission is to accelerate the mainstream adoption of EVs by making them more accessible nationwide."

"Our portfolio already offers a wide choice of body styles, range and price points for our smart, feature rich EVs. We believe that at these accessible prices, the best-selling Nexon.ev and Tiago.ev become an even more compelling proposition to attract a larger pool of customers,” he added.

Growth of EV segment in India

The EV segment in India has witnessed robust growth, outperforming the overall passenger vehicle industry. In CY2023, EV sales surged by over 90 per cent, compared to just 8 per cent growth in the passenger vehicle industry. 

This growth trend has continued into CY2024, with EV sales registering a staggering 100 per cent year-on-year increase in January 2024. TPEM currently holds over 70 per cent market share in this rapidly expanding segment.