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Tata Nexon EV, Tiago EV Prices Slashed Following Drop In Battery Cell Costs

Citing a softening of battery cell prices, Tata Motors has cut the Nexon EV’s price by up to Rs 1.20 lakh, while the Tiago EV is now up to Rs 70,000 cheaper.
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By Amaan Ahmed

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3 mins read

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Published on February 13, 2024

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Highlights

  • Tata Tiago EV prices now start at Rs 7.99 lakh, a reduction of Rs 70,000.
  • Nexon EV MR starts at Rs 14.49 lakh, while the long-range Nexon EV starts at Rs 16.99 lakh.
  • Tata Motors attributes price reduction to a softening of battery cell prices.

Two of India’s best-selling passenger electric vehicles (EVs) have received a fillip in the form of a substantial price cut. Tata Motors has announced a reduction of up to Rs 1.20 lakh in the prices of two of its top-selling battery-powered models, the Tiago EV and Nexon EV. Citing a drop in global battery cell costs, Tata has slashed the price of the Nexon EV – which is the country’s best-selling passenger EV – so it now starts at Rs 14.49 lakh for the base Medium Range (MR) version, a reduction of Rs 25,000. The bigger difference is with the entry-level Long Range (LR) Nexon EV, which now starts at Rs 16.99 lakh – a full Rs 1.20 lakh lower than before.

 

Also Read: Tata Tiago and Tigor iCNG AMT Models Launched In India; Prices Start At Rs. 7.90 Lakh

 

Nexon EV New Prices (in lakh, ex-showroom)   
VariantOld price New price Difference
Creative +MR 14.7414.4925,000
Fearless MR 16.1915.9920,000
Fearless +MR 16.6916.4920,000
Fearless +S MR 17.1916.9920,000
Empowered MR 17.8417.4935,000
Fearless LR 18.1916.991,20,000
Fearless +LR 18.6917.491,20,000
Fearless +S LR 19.1917.991,20,000
Empowered +LR 19.9919.2970,000

 

The Tata Tiago EV, meanwhile, now starts at Rs 7.99 lakh, which is Rs 70,000 lower than before (all prices, ex-showroom). The XT MR variant costs Rs 35,000 lower, while the XT LR is now Rs 30,000 cheaper. The price difference for the top-spec XZ Plus and XZ Plus Tech variants is Rs 20,000. As for the Nexon EV, the Fearless MR, Fearless Plus MR and Fearless Plus S MR trims see a Rs 20,000 price reduction, while the Empowered MR is priced Rs 35,000 lower than before. All Nexon EV LR variants see a price cut of Rs 1.20 lakh barring the top-spec Empowered LR, which sees its price slashed by Rs 70,000.

 

Tiago EV New Prices (in lakh, ex-showroom)   
VariantOld price New price Difference
XE MR 8.697.9970,000
XT MR 9.348.9935,000
XT LR 10.299.9930,000
XZ +LR 11.0910.8920,000
XZ +Tech Lux LR 11.5911.3920,000

 

For those curious, this price drop isn’t applicable to any other Tata EVs, including the Punch EV, as Tata says the introductory prices for the Punch EV already factored in the falling battery cell costs.

 

Nexon EV

The long-range Nexon EV now starts a full Rs 1.20 lakh lower than before.

 

Commenting on the price drop, Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility (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.”

 

Also Read: Tata Punch EV Launched In India; Prices Start At Rs. 10.99 Lakh

 

The timing of the price reduction is interesting, given the Tata Nexon EV’s closest rival, the Mahindra XUV400, recently received a significant update, and at Rs 17.49 lakh (for the long-range 39.4 kWh version), undercut the Nexon EV LR by a big margin – roughly Rs 70,000. With the price revision, the Nexon EV LR now starts Rs 50,000 lower than the long-range XUV400.

 

One of the most affordable passenger EVs in India, the MG Comet, too received a price cut a few days ago, bringing the dinky little electric city car’s starting price down to Rs 6.99 lakh, a full Rs 1.70 lakh less than the entry-level Tiago EV. With the price reduction, the base Tiago EV is once again only Rs 1 lakh further than the entry-level Comet.

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