Tata Motors has announced a substantial price reduction for its popular Nexon EV. The electric SUV now comes with a staggering discount of ₹3.15 lakh, bringing its starting price down to a more competitive ₹14.54 lakh (ex-showroom). The discounts are on the pre-facelift version of the Tata Nexon Electric, which was officially discontinued in the middle of last year after the facelifted Nexon.EV was launched.
This price revision has undoubtedly sparked the interest of potential EV buyers, but a closer look reveals that there’s a catch in this massive discount. Let’s understand the discount in detail.
The ₹3.15 lakh discount on the Nexon EV is not a straightforward price cut. It is a combination of various incentives offered by the car manufacturer, the government, and state subsidies. Here’s a breakdown of the discount structure:
• FAME-II Subsidy: The central government’s Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) scheme offers a significant subsidy on the purchase of electric vehicles. The current subsidy for the Nexon EV falls within this bracket.
• Manufacturer Discount: Tata Motors itself is extending an additional discount on the Nexon EV, further bringing down the price for the customer.
• State Subsidies: Several state governments in India offer additional subsidies to promote EV adoption within their jurisdictions. The total discount of ₹3.15 lakh might also include a state-specific subsidy, depending on the location of purchase.
It’s crucial to remember that the extent of the state subsidy component will vary depending on the state where the Nexon EV is being purchased. Some states offer higher subsidies than others, and this variation can significantly impact the final price a customer pays. Potential buyers are encouraged to check with their local Tata Motors dealership to determine the exact on-road price after accounting for all applicable subsidies.
Tata Motors has also introduced similar discount schemes for its other electric vehicles, the Tiago EV and the Tigor EV. The Tiago EV currently benefits from a price reduction of around ₹2 lakh, while the Tigor EV sees a slightly lower discount of around ₹1.8 lakh. These discounts follow a similar structure to the Nexon EV’s offer, combining FAME-II subsidy, manufacturer discount, and potentially state-specific subsidies. However, the discounts on the Tiago.EV and Tigor.EV are on current models of both these cars.
Tata Motors’ significant price reduction on the Nexon EV is a strategic move to clear out the old stock before the launch of the new model. This price revision by Tata Motors is certainly a positive development for the Indian EV market, making electric vehicles more affordable and potentially accelerating their adoption across the country.
The post Tata Nexon EV Gets A Massive 3.15 Lakh Discount But There’s A Catch first appeared on Cartoq.
Source Link
