After Tata Motors & MG slash prices, are EVs costlier than petrol, diesel cars?

Launched in 2020, the Nexon.ev was India's cheapest electric SUV until the launch of Tata's Punch EV at ₹12 lakh in 2024

Published on: Feb 14, 2024, 12:26:41 IST

By HT News Desk

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With automobile giants Tata Motors and MG cutting prices across their EV lineups, the electric car prices are at par with petrol and diesel variants.

Tata Motors on Tuesday announced that it reduced prices of its electric cars by up to ₹1.20 lakh. The price of Nexon.ev is now down to ₹14.50 lakh. According to the carmaker's website, the starting price of Nexon EV was set at ₹14.70 lakh.

Launched in 2020, the Nexon.ev was India's cheapest electric SUV until the launch of Tata's Punch EV at ₹12 lakh in 2024.

The starting price of Nexon petrol variant is ₹8.14 lakh, while the diesel version has a starting price of ₹11,09,990.

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On the other hand, Tata also cut price of small EV Tiago by ₹70,000. The base version now costs just ₹7.99 lakh.

Tata's electric car Nexon EV was launched in 2020

“With battery cell prices having softened in the recent past and considering their potential reduction in the foreseeable future, we have chosen to proactively pass on the resulting benefits directly to customers,” Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility, told Reuters.

At present, electric variants form just 2% of car sales in India, as buyers are wary about the higher upfront costs despite lower running costs and as range anxiety persists.

On the other hand, MG Motor India reduced prices for its small electric car MG Comet EV from ₹99,000 to ₹1.40 lakh, the Mint reported. MG's three options namely Pace, Play, and Plush, now come with revised prices of ₹6.99 lakh, ₹7.88 lakh, and ₹8.58 lakh (ex-showroom), respectively, the report added.

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HT News Desk
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