A small discount on any item in this priceless market brings joy to the eyes of the buyers. Most of the car companies are offering attractive discounts on their popular models in February. So many buyers are standing in long queues to buy cars this month. Tata Motors announced the good news by increasing the frenzy of the buyers several times. The company has reduced the price of a pair of electric vehicles by Tk 1.20 lakh. This list includes – Tata Tiago EV and Nexon EV.
Tata Motors slashes prices of two EVs
The question may arise, what is the reason for reducing the price so much? In fact, the reduction in the price of battery cells in the international market has also affected this country. Which is why both of these very popular battery models have become cheaper. The price of the base mid-range version of the Nexon EV has come down by Rs 25,000 and now starts at Rs 14.49 lakh. Again, entry level long range Nexon EV will now cost Rs 16.99 lakh (ex-showroom). Price reduced by Rs. 1.20 lakh.
Meanwhile, the price of the Tata Tiago EV has been reduced by Rs 70,000 to Rs 7.99 lakh (ex-showroom). However, it is not yet clear whether the prices of other models in this lineup have been reduced. Tata will soon reveal the new prices for all the variants of the two cars. Notably, the company’s other EV models will not be affected by this price cut. Like Punch EV and Tiago EV.
Commenting on the price cut, Vivek Srivastava, Chief Commercial Officer, Tata Passenger Electric Mobility, said, “The cost of an electric vehicle covers a significant portion of its cost. This fall in prices is due to the cheaper cost of battery cells.” Incidentally, the rival of Tata Nexon EV is the Mahindra XUV400. Its current price is Rs 17.49 lakh.
Now the MG Comet EV has debuted as India’s cheapest electric vehicle. A few days ago, MG Motor reduced the price of this model by Rs. 1.70 lakh. As a result, currently it will cost 6.99 lakh rupees to buy it. As its counterpart, the Tiago EV costs a lakh more than that.