RBI Issues Circular On Levying Unfair Interest Charges On Customers

Nexon.ev long range ex-showroom price will now start from Rs 16.99 lakh. (Photo Credit: www.tatamotors.com)

Electric vehicle manufacturers have started to reduce EV prices on account of battery price reduction. After MG Motors, home-grown auto manufacturer, Tata Motors, has also reduced prices of two of its EVs, Nexon.en and Tiago.ev. Good news is that the Mumbai-based auto major has said that it expects more battery price rationalisation in coming days. This can enable EV manufacturers to further cut prices of green and clean energy vehicles.

Both Nexon.ev mediumd range and long range versions have become cheaper by Rs 25,000 and Rs 1.20 lakh, respectively. The former’s ex-showroom price will now start from Rs 14.49 lakh. While, the latter’s ex-showroom price will now start from Rs 16.99 lakh.

Nexon.ev is India’s highest-selling EV.

Tiago.ev on the other hand has become cheaper by Rs 70,000. Customers can buy the EV from starting ex-showroom price of Rs 7.99 lakh.

India’s leading EV maker has not cut prices of Punch.ev and Tigor.ev, the latter’s ex-showroom price still starts from Rs 12.49 lakh, while, the former’s ex-showroom price starts from Rs 10.99 lakh.

Earlier, China-based automaker SAIC owned MG Motor had cut prices of Comet EV by Rs 99,000. The price of the small-size EV currently starts from Rs 6.99 lakh.

While, the automotive company had driven in a new entry level variant of another of its green energy vehicle the ZS EV at Rs 18.98 lakh. This had brought down price of entry level model of ZS EV by Rs 3.9 lakh.

According to SMEV, so far, in FY24, total number of 75,470 units of electric passenger vehicles (ePV) were sold in the country. ePV sales constituted around 5 per cent of total EV industry.