'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.
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