Tata Motors cuts Nexon EV price on heels of M&M electric SUV launch

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At a time when automakers are increasing prices due to higher input costs, market leader in the electric passenger vehicle segment Tata Motors on Wednesday slashed prices of Nexon EV. The EV will now be available at ₹14.49 lakh across the country. This comes two days after Mahindra introduced its XUV 400 electric SUV.

Earlier the starting price of the Nexon EV was ₹14.99 lakh. The Mahindra XUV 400 electric SUV is priced at ₹15.99 lakh.

Further, Tata Motors also announced the repositioned of the Nexon EV MAX at ₹16.49 lakh with new features and an enhanced range to 453 km that will be available through a software update starting from February 15.

Nexon EV MAX XM trim is also introduced in the EV portfolio that is equipped with ZConnect-connected car technology, smartwatch connectivity, electronic parking brake, and automatic climate control.

“We are committed to making sustainable transportation accessible to everyone, and this repositioning is a big step in that direction. Our smart engineering and government incentives have allowed us to achieve this disruption, maintaining the same high level of quality and service, our customers expect from us. With this, we are confident that more and more customers will make the switch to e-mobility,” said Vivek Srivatsa, Head- of Marketing, Sales, and Service Strategy, at Tata Passenger Electric Mobility Ltd, said.

The company had 2022 launched the most affordable electric vehicle Tiago TV at an introductory price of ₹8.49 lakh. Electric vehicles had posted its highest-ever quarterly sales for Tata Motors at 12,000+, with a market share of 87 per cent.

EV shift

businessline had earlier reported the shift in consumer pattern to purchasing of electric vehicles as their ‘only car’ increased to 70 per cent from 25 per cent.

Further, electric vehicle registrations had nearly hit the 10-lakh mark in 2022, with the latter half of the year witnessing the bulk of sales. As per Vahan, which tracks vehicle registrations, nearly 1 million electric vehicles were registered in 2022.

“People who are using Nexon EV as the primary car is now at 65-70 per cent,” said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd, and Tata Passenger Electric Mobility Ltd, while speaking at the earning discussion call for the September quarter.


Published on January 18, 2023

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