'Online sources state that the cost of lithium-ion batteries decreased by around 14% in the previous year, and that this downward trend continues as material prices moderate.
Delhi: The asking prices of Nexon.ev and Tiago.ev has been lowered by as much as ₹ 1.2 lakh and ₹ 70,000, which is respectively, by the Tata Motors subsidiary Tata Passenger Electric Mobility (TPEM). Tiago.ev’s new pricing start at ₹7.99 lakh, while Nexon.ev’s MR (Medium Range) and LR (Long Range) start at ₹14.49 lakh and 16.99 lakh, respectively.
The company justified this action by citing a decrease in battery costs . “Battery costs constitute a substantial part of the overall cost of an EV,” stated Mr. Vivek Srivatsa , Chief Commercial Officer, TPEM, in reference to the price drop. We have decided to proactively pass on the benefits to consumers as a result of the recent softening in battery cell prices and their anticipated decrease in the near future. Our goal is to hasten the widespread adoption of electric vehicles (EVs ) by increasing their accessibility across the country, even if their popularity has increased dramatically in recent years. Our selection of intelligent, feature-rich electric vehicles (EVs) currently provides a broad range of body designs, pricing ranges, and options. We think that these reasonable costs make the popular Tiago.ev and Nexon.ev even more alluring as offerings to draw in a wider consumer base.”
MG Motors also reduced the price of the MG Comet EV earlier this month, with pricing now between ₹ 99,000 and ₹ 1.40 lakh. They also unveiled the more reasonably priced ZS EV “Executive” model, which retails for ₹ 18.98 lakhs.
Gaurav Gupta, the company’s deputy managing director, also gave “long term key commodities cost rationalization” as the justification for the action. Online sources state that the cost of lithium-ion batteries decreased by around 14% in the previous year, and that this downward trend continues as material prices moderate.
Welcome To Taza News Media, Your Gateway To A Dynamic Realm Of Information And Enlightenment. As You Step Into Our Digital Home, We Invite You To Embark On A Journey That Transcends Conventional News Reporting. At Taza, We Believe In The Power Of Storytelling, Weaving Narratives That Go Beyond The Surface To Unveil The Heart Of Every News Piece. Our Commitment To Journalistic Integrity Is The Cornerstone Of Taza News Media, Ensuring That You Receive Not Just News Updates But A Thoughtful Exploration Of The Stories That Shape Our World.
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