Tata Passenger Electric Mobility Ltd (TPEM), a subsidiary of Tata Motors and the pioneer of India’s EV revolution, announced an exciting reduction in prices of its bestselling EVs – Nexon.ev and Tiago.ev, with the objective of making EVs more accessible to Indian customers.
The Nexon.ev, India’s most feature-rich EV, is set to see a price reduction of up to Rs. 1.2 Lakh. The fastest-selling Tiago.ev will also see a reduction of up to Rs. 70,000, with the base model starting at Rs. 7.99 Lakh. The launch of the Punch.ev will remain unchanged.
EVs outperformed the overall passenger vehicle industry growth in CY2023, growing by over 90%, outperforming the 8% growth recorded by the PV industry. This growth momentum has continued in CY2024 with EV sales registering 100% YoY growth in January 2024. TPEM with over 70% market share is the market leader in this fast-growing segment. Speaking about this price reduction, Mr. Vivek Srivatsa, Chief Commercial Officer, TPEM, said, “We believe that at these accessible prices, the best-selling Nexon.ev and Tiago.ev become an even more compelling proposition to attract a larger pool of customers.”
