Tata Motors, the country’s largest passenger electric vehicle manufacturer, on Wednesday virtually signaled a price war in the segment by launching its latest variant of the Tiago EV at Rs 8.49 lakh. This is also the first hatchback in the EV segment.
So far, there’s no EV in the passenger vehicle segment which is priced below Rs 10 lakh. Already, the most affordable car in the segment was also from Tata Motors’ stable – Tigor at Rs 12.49 lakh.
Other EVs currently available in the market from other manufacturers like Hyundai and Kia are above Rs 20 lakh.
Though Tata Motors said that this a ‘special introductory’ price for the first 10,000 customers – of which 2,000 will be reserved for the current owners of the Nexon EV and Tigor EV – even after a revision its unlikely that the price would go beyond Rs 10 lakh.
Bookings for the vehicle will commence from October 10 through a payment of Rs 21,000 and deliveries will start from January 2023.
EV variants are priced at a premium over their petrol versions, and in the case of the Tiago, the premium is the least.
The Tiago EV comes with two battery options. The smaller battery pack (19.2kWh) variant, having a claimed range of 250kms, is priced at Rs 8.49 lakh. The petrol variant of the same model is priced at Rs 5.4 lakh, both the prices are ex-showroom.
Also Read: After Mumbai roll out, Switch’s electric double decker bus gets good response from slew of STUs & tourism sector
Tata Motors’ other models have a much higher price gap. The petrol-powered Tata Tigor is priced at Rs 6 lakh while its electric variant is priced at Rs 12.49 lakh. The Tata Nexon petrol is priced at Rs 7.6 lakh while its electric variant is priced at Rs 15 lakh.
Tiago EV’s larger battery pack (24kWh), having a claimed range of 315 kms, is priced at Rs 9.99 lakh. There are seven variants of the Tiago EV, differentiated by features. The top-end variant of the car is priced at ?11.79 lakh, all prices ex-showroom.
The Tiago EV comes with four charging options. A 15A plug point, a standard 3.3kW AC charger, a 7.2kW AC home fast charger (which can charge the vehicle from 10% to 100% in 3 hour 36 minutes) and a DC fast charger (which can charge from 10% to 80% in 57 minutes), are the charging options offered on the car.
The Tiago EV is the first new model launched by the company after the sale of stake by Tata Motors in the newly-formed subsidiary – Tata Passenger Electric Mobility – to a consortium led by TPG Rise last year. The Tiago EV is also one among 10 introductions in the EV space promised by Tata Motors by 2026.
Tata Motors is the largest player in the passenger EV space with cumulative sales of more than 45,000 units. The company has a share of more than 89% in this category. With this launch, the company is entering 80 new cities and expanding its network to more than 165 cities.
Shailesh Chandra, managing director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “We had several customers who were looking for a smaller, but feature-rich electric car to be their second car. The Tiago EV has a running cost of just Rs 1.1 per km compared to Rs 7.5 per km of a regular hatchback. We are expecting the Tiago EV to be the best-selling electric car in the country.”
Leatherette seats, contrast roof, fully automatic climate control, projector headlamps and cruise control, rain-sensing wipers, auto headlamps, electric out rear-view mirrors with auto fold, push button start/stop along with a puncture repair kit, are offered in the Tiago EV.
The Tiago EV will be the first in its category to offer telematics as standard feature on all trims. The car can be accessed through the ZConnect app which will offer 45 connected car features including remote AC with temperature setting, remote geo fencing and car location tracking, smart watch connectivity, remote vehicle health diagnostics, real-time charge status, dynamic charger locator, driving style analytics amongst others. In addition, the car will also have an 8-speaker Harman Infotainment System with Android Auto and Apple CarPlay connectivity.
Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.