By: Mobin
Tata Motors has announced big price cuts for its popular Nexon EV and Tiago EV electric models. This will make the EVs more affordable.
The price of Nexon EV has been reduced by up to Rs. 1.2 lakh. The Tiago EV gets a price cut of up to Rs. 70,000.
The price cuts have been enabled by recent reduction in battery cell prices. These benefits are being directly passed to customers.
The reduced prices are applicable only on new purchases. Existing Nexon EV and Tiago EV owners will not receive any benefit.
Tata Motors wants to use the price cuts to accelerate mainstream adoption of EVs across India by making them more accessible.
Tata already commands over 70% of India's EV market share through popular models like Nexon EV and Tiago EV.
The EV segment witnessed 90% growth in 2023 compared to just 8% growth in the traditional passenger vehicle industry.
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