Tata Motors slashes prices of Punch, Nexon, Tiago EVs

India’s largest electric carmaker Tata Motors slashed prices of electric vehicles by up to ₹3 lakh, a day after it reduced starting prices for several of its internal-combustion engine (ICE) models.

The price of the Nexon EV has been reduced by up to ₹3 lakh and the Punch.ev has seen a price cut of ₹1.2 lakh.

The Punch EV now starts at ₹9.99 lakh (ex-showroom) while the Nexon EV’s price begins at ₹12.49 lakh, which the company claims is on par with petrol and diesel variants.

"With this offer, TATA.ev is bringing the prices of the best-selling Nexon.ev on par with ICE models, while the prices of the Tiago.ev and the Punch.ev have been brought closer to their ICE counterparts for a limited time," the carmaker says in a statement.

Customers of TATA.ev can additionally enjoy 6-month free-of-cost charging at any of the over 5,500 Tata Power charging points across the country, it says.

Tata Motors says the price cut is a big step towards mainstreaming EVs and accelerating EV adoption in the country.

“TATA.ev has been passing on the benefits of localisation and technology improvements to customers, and has been able to bring ICE price parity with Curvv.ev launched last month. With this special offer, TATA.ev is bringing the prices of the best-selling Nexon.ev on par with ICE models as well for a limited time. In addition, festive offers on Punch.ev and Tiago.ev have also brought their prices closer to that of their ICE counterparts,” the carmaker says.

This festive offer is available only for a limited period, till October 31, 2024.

“Our singular purpose at TATA.ev is to mainstream EVs, by breaking barriers and making EVs more accessible to regular car buyers. With these special, limited period prices, we are breaking the high acquisition cost barrier for EVs, and bringing EV prices closer to similar petrol and/or diesel-powered vehicles,” says Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility.

On Monday, Tata slashed prices of its ICE cars including Tiago, Altroz, Nexon, Harrier, and Safari by up to ₹2.05 lakh. With this, the price of hatchback Tiago now starts at ₹4.99 lakh, down ₹65,000 compared to earlier. Tigor’s entry price starts at ₹5.99 lakh, down ₹30,000. Altroz has seen a price cut of up to ₹45,000, with prices starting from ₹6.49 lakh.

The Nexon has seen a price cut of ₹80,000, with prices starting from ₹7.99 lakh.

The Harrier and Safari have seen a price cut of ₹1.6 lakh and ₹1.8 lakh respectively.