TIL Desk/Business/New Delhi/ As major automotive manufacturers line up electric cars for the Indian market, segment leader Tata Motors has decided to significantly slash the prices of its popular Nexon EV by Rs 31,000-Rs 85,000 amid intensifying competition.
This move by Tata Motors comes a day after Mahindra & Mahindra launched its much-awaited compact electric sport utility vehicle — the XUV400 — at a competitive price point. At Rs 18.99 lakh, the Nexon’s top variant is equivalent to M&M’s XUV400’s top trim.
Tata Motors has also reduced the price of its low-end variant by Rs 50,000 to Rs 14.49 lakh (ex-showroom), making it cheaper by Rs 1.5 lakh than the XUV400’s low-end variant. Tata Motors says the move was taken after the company received benefits from additional locations, government initiatives, and production efficiency in the past few months.
“Our strategy has been to make our products more attractive to customers and build a range from the Tiago right up to the Nexon in a cohesive manner. Our smart engineering and government incentives have allowed us to achieve this disruption. We are just passing it on to customers,” Vivek Srivatsa, head-marketing, sales and service strategy, Tata Passenger Electric Mobility told.
