Tata Passenger Electric Mobility Ltd (TPEM), a subsidiary of Tata Motors and a frontrunner in India’s electric vehicle (EV) has announced sweeping price reductions on its flagship EV models, Nexon.ev and Tiago.ev.
With immediate effect, Tata’s Nexon.ev, India’s most feature-rich EV, will be available at a starting price of Rs. 14.49 Lakh, reflecting a substantial reduction of up to Rs. 1.2 Lakh. Simultaneously, the Tiago.ev, recognized as the nation’s fastest-selling EV, sees its base model priced at an unprecedented Rs. 7.99 Lakh, following a reduction of up to Rs. 70,000.
Mr. Vivek Srivatsa, Chief Commercial Officer of TPEM, attributed this strategic move to the declining costs of battery cells and the company’s proactive approach to passing on these savings to customers. As India’s EV market continues to burgeon, with January 2024 witnessing an impressive 100% year-on-year growth, TPEM stands as the dominant force, commanding over 70% market share.
