Tata Motors likely to hike Tiago EV price by ₹30-35K in 2023
Tata Motors Limited, India’s largest automobile maker, has announced that it will increase the prices of the Tata Tiago EV, its cheapest electric vehicle, by around ₹30,000-₹35,000. The exact price hike is expected to be announced in January 2023.
The company in a statement said that the price hike was expected and that the introductory prices were valid for the first 10,000 bookings only. This was later extended to another 10,000 customers since the vehicle received a tremendous response.
Price increase in two phases
The company may need to implement the price hikes in two phases to reduce the impact of the hike on customers, said Shailesh Chandra, the managing director of Tata Motors Passenger Vehicles and Tata Passengers Electric Mobility.
Explaining the reason behind the price hike, he said the battery prices had increased by 30-35 per cent and the same was not fully passed on to the buyers.
Also read: Tata launches Tiago EV in India
Chandra said the company did not have to increase the price of the Tiago EV by a significant margin, as it shares several components with the petrol hatchback, and the electric drivetrain components and materials used in Nexon EV and Tigor EV.
He also attributed the price rise to rising battery prices, new battery standards for EVs, and the implementation of BS-VI emissions standards for IC-engine vehicles in April.
Most affordable electric vehicle in India
Presently, the Tiago EV is priced between ₹8.49 lakh and ₹11.49 lakh (ex-showroom).
According to Tata Motors, Tiago EV’s bookings make up 30 to 35 per cent of all Tiago bookings. The company plans to commence deliveries of the electric Tiago hatchback by mid-January, and expects to complete delivery of the first batch within four to five months.
Also read: 5 crore electric vehicles on Indian roads by 2030: KPMG report
Tata Tiago EV is the first electric car in the country to be priced below ₹10 lakh, and it is available in five colour options.
According to certain car reviewers, for a small vehicle, the Tiago EV cabin space offers decent room for a family of four. It has a battery pack of 24 kwh, which, according to Tata, gives a range of 315 km. Also, the model takes just 5.7 seconds to accelerate from 0 to 60 km/h.
