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-   -   Tata Motors slashes EV prices by up to Rs 1.2 lakh (https://www.team-bhp.com/forum/electric-cars/276933-tata-motors-slashes-ev-prices-up-rs-1-2-lakh.html)

Tata Motors has reduced the prices of its pure electric models by up to Rs 1.2 lakh.



The Tiago.ev gets a price reduction of up to Rs 70,000. With this, the base variant is now priced at Rs 7.99 lakh (ex-showroom).

Prices of the Nexon.ev have also been reduced. The electric SUV range now starts at Rs 14.49 lakh (ex-showroom). Prices of the recently launched Punch.ev remain unchanged.

According to Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility (TPEM), 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, the carmaker has chosen to proactively pass on the resulting benefits directly to customers.

It is said that EVs are outperforming the overall passenger vehicle industry growth. In CY2023, the EV segment grew by over 90% against the 8% growth recorded by the PV industry. In CY2024, EVs registered a 100% YoY growth in January.

Tata Motors leads the EV segment in India with a market share of over 70%.

Link to Team-BHP News

Here's the price list, variant-wise. The LR version, especially the fearless one, has had a good price correction. I'm wondering why Empowered Plus LR didn't receive the same price correction as Tata said it's passing on the battery price reduction benefits to customers.

Too little as these are way overpriced, to begin with. Tata should have done away with the MR (30 kWh) model altogether and priced the base LR variant at Rs 15 lakhs. 5% GST, PLI schemes, and very low battery prices are providing huge benefits to car makers to price their EVs very competitively. But as usual, they are being greedy and trying to increase margins instead of playing the volume game.

EVs are a great way for Tata to shed their low-end image. Even today, 90% of their sales are coming from <4m cars. Even after 4 years of the first Nexon EV launch, both the price and battery sizes are the same as it was then. The less said about the DC fast charging speeds the better.

These cars were discounted anyway and with nil or less tax on EV's, I don't think people who bought it just before this price correction is loosing much.

With battery prices on the down trend, I would imagine EV's will continue to have price cuts while ICE might get expensive overtime. Wonder how prospective buyers would look at this - the depreciation hit is huge for individual owners (thanks to poor resale value owing to market maturity). I guess you buy an EV for the experience - numbers probably won't be on your side.

This was expected as MG ZS ev is dangerously close to Nexon ev top end models with less issues compared to nexon ev.

I have a question for existing Nexon EV/any EV owners- how do you see the resale cycle of your cars given that battery replacement costs are bound to hit by the 8-10 year mark? Do you plan on selling it before that, or replace and hold on to the car for a few years after?

I wonder what is going to happen to the resale value of old Nexon EVs & MG ZS evs with these massive price corrections.

ZS EV guys who paid 26-27L just one year ago will struggle to get 17-18L if they have to sell now, given that the base variant is 19L now. Older (pre Facelift) ZS EVs would likely go under 15L.

I'm not aware of the exact pricing of the pre-FL Nexon EV, but I guess they'd also have lost almost 40-45% of their original OTR cost in depreciation? I'm sure the "early adopters" wouldn't have factored in this kind of depreciation curve. I can imagine that the only happy owners would be the ones with really high usage who'd have saved a huge chunk of money on fuel bills already and have no plans of selling their cars.

Funny how just during a week or so back Tata announced via press release that a price hike of 3% citing input costs and it also applies to EV. Then MG announced the price cuts and now the price cuts.

MG comet for example gets its battery pack made by Tata and MG was able to cut prices by a significant margin.

Tata themselves still import the battery cells from Gotion China and assemble the battery pack in India.

Tata should have cut prices by 10% at least, even after the price cut MG ZS EV is a better buy due to 20% more battery capacity and 2x more charging speed.

Tata I believe wants to price its EV slightly more then their ICE versions.

I believe Citroen will also have to respond both with a price cut and more features.

Exactly they can't reduce price to extent where price will same as ICE Nexon and ICE Nexon is way overpriced after the update so Tata is now trapped rl:

This was bound to happen. My thoughts on this -

1. With this price decrease, Nexon MR variants are redundant, why will someone not pick Punch.EV and get a bigger battery?
2. This should have been the price they had ideally launched at 3 months and a price cut so soon hurts the buyer who bought the car at launch prices.

Price revision for Tiago is as follows

Assuming prices keep falling (will it?), we can see Nexon EV equivalent car at 15lk price after 8 years.

An old Nexon with an 85% battery SOH (no replacement needed) if it sells at 7-8lk is a great value. It will give me 250km (considering LR with 300km range now) and is still a good car. The second owner can still get his battery replaced for ~3lk(battery prices have fallen) and get 100% SOH.

Both cases, it will be cheaper than a new EV by ~50%

An 8-year-old EV will be in a better state than an 8-year-old ICE.

Thanks. I suppose that also comes down to what the owner wants- if a new car itch develops by then, they'll be ready to take the replacement hit and sell it at a lower price to the next guy. Else they can change it themselves and continue since as you said EVs age better than ICE cars.

But didn't realize that efficiency drop will only be ~15-20% in 8 years- assumed it would be 50% of that of a new EV.

Sorry for going off-topic mods, please merge to relevant thread if necessary.

I purchased Nexon EV facelift just a few weeks ago and am having a horrific experience with the problems I am facing. Price drop is not an answer when the quality of your vehicle is so so bad. I always respected Tata for the nation loving company they have been, but I never knew owning a Tata car can be such a nightmare of an experience.

Along with the Nexon.EV MR, the Nexon Diesel AMT also makes no sense to someone buying the car for city + extra urban usage with low running costs.



Comparing Fearless trims on both LR and Diesel AMT.

The difference in On Road price is the same as a midrange Android phone.
The difference in EMI is similar to the Netflix 4K plan.

If Tatas have maxed out the battery pack possible on the Nexon, the only place they can get more competitive with competing ICE offerings is by offering lower trims like Smart, Pure and Creative on the EV. Going there will truly democratise the EV. Brezza / Venue / Sonet Petrol ATs start from somewhere around 13-14L in their lower trims.

Nexon EV is still some way away from reaching that price point. But if it does get closer, Tatas have the production capacity, might as well put it to good use.

Frankly, even 15% is an upper limit. These numbers are coming from Tesla and other NMC batteries (they have 1000-1200 cycles of life).

LFP used in Nexon has a 3000 cycles life, which with a modest range of 250km will translate to 7lk km. So SOH must be lower than NMC. Also, Indian weather conditions are not that harsh (other than a few places for short duration). So we must get a better life.

I guess today the ICE seconds market is in high on demand due to increasing new car prices. With EVs a new car price will go up by 20-30% and this must drive the seconds market further.

On the other hand, replacing EVs with newer ones will be a costly affair for the next 3-5 years. Prices are still high for new one and second hand market is not yet there.