Electric cars almost on par with petrol, diesel as Tata, MG cut prices

Feb13,2024


New Delhi: It is widely believed that electric cars Very expensive to buy. But the perception is not keeping pace with reality. Like after the recent cutbacks by manufacturers Tata Motors And MG Motor, you may well recoup any extra price you paid to buy an EV in less than a year, especially when the Greens already offer most of the mileage per km, in addition to subsidized registration fees. Put in at low cost.

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The country's largest electric car seller Tata Motors on Tuesday announced a huge price cut for the electric versions of Nexon SUV and Tiago Mini. While the biggest price cut of Rs 1.2 lakh has been made on the Nexon EV (entry variant priced at Rs 14.5 lakh, ex-showroom), the Tiago will see a price cut of up to Rs 70,000, with the base model now priced at Rs 8 lakh. , Tata said it is passing on the “benefit of reduction in battery price” to customers. “Battery cost is a major part of the total cost of an EV,” said Vivek Srivatsa, chief commercial officer, Tata's passenger car electric mobility division.
EV companies cut prices on battery cost reduction, localization
Battery costs form a large part of the total cost of an EV. “Battery cell prices have moderated in recent times and considering the potential shortage in the near future, we have chosen to proactively pass on the resulting benefits directly to customers,” said Chief Commercial Officer, Tata Passenger Car Electric Mobility Division Officer Vivek Srivatsa said.
With this, for example, the annual cost of driving an electric Nexon for about 15,000 km will be Rs 15,000, while that for the diesel model will be Rs 96,021. variant, and for Rs 1.2 lakh petrol (Considering Delhi, where diesel costs around Rs 90 per litre, and petrol at Rs 97, and the EV per unit charge is Rs 10). This means that one can recover the slight additional cost of buying an EV (compared to petrol) in just less than a year. The on-road price of the petrol Nexon is Rs 14.2 lakh, while the on-road price of the electric is Rs 15.1 lakh, due to the subsidized registration cost for green cars. With an on-road price of Rs 15.4 lakh, the diesel version is already priced higher than the electric, and it has been lower since day one. Srivatsa said Tata Motors aims to accelerate “mainstream adoption of EVs” through this measure.

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Talking about MG Motor, the company had reduced the ex-showroom price of its Comet Mini Electric by Rs 1 lakh, after which now the price of this car is Rs 7 lakh. On the larger ZS Green SUV, it had introduced a brand new lower priced entry variant at Rs 19 lakh as against the previous starting price of Rs 22 lakh.
“This has been possible due to increased localisation, long-term freight contracts, streamlined logistics, supply chain improvements and long-term cost rationalization of key items,” said Gaurav Gupta, deputy MD, MG Motor India.



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