The Tata Tiago EV hatchback will see a price increase starting in India in January 2023, according to Tata Motors. The Indian automaker has disclosed that starting in the new year of 2023, the price of its most cheap electric vehicle option will increase by up to 4 percent.
On the Tata Tiago EV’s initial price, a price increase of between Rs 25,000 and Rs 35,000 (depending on the version) can be anticipated. At launch, the Tata Tiago EV’s basic price in India was Rs. 8.49 lakh (ex-showroom). Follow For More Updates at satiknews.com
Why are the costs for the Tata Tiago EV rising?
The Tata Tiago EV was introduced earlier this year, with prices ranging from Rs 8.49 lakh (ex-showroom) for the entry-level XE version to Rs 11.79 lakh (ex-showroom) for the highest-specified XZ+ Tech Lux variant. The pricing were good for the first 10,000 reservations, and once the company noticed a significant demand, they were later increased to 20,000 reservations. But it is now official that the prices will change once the new year begins.
Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passengers Electric Mobility, commented on the matter by saying that although the cost of battery packs has increased by 30 to 35 percent, the company has chosen not to pass the increase on to the public.
Tata has announced an impending price increase of up to 4% for its Tata Tiago EV lineup.
The price increase may increase the cost of some options by up to Rs 35,000
Approximately 30 to 35 percent of all Tiago brand sales are made by the dominant Tata Tiago EV. For the latest news, follow us on Google News
The Tata Tiago EV shares electronic components with the Tigor EV and the larger Nexon EV, which helps the firm keep costs in check. It is also heavily based on the Tata Tiago ICE variant. This enables the Indian manufacturer to share parts, which, thanks to economies of scale, helps keep prices in check.
Also noticed is the significant demand for the electric Tiago, which accounts for around 30 to 35 percent of all reservations made under the Tiago brand. This percentage is also larger than that of other EVs, including the Nexon EV, which accounts for between 20 and 25 percent of the brand’s overall sales.
The “.EV” name, which is anticipated to appear on additional vehicles shortly, is also being considered by Tata Motors as a way to rebrand its current array of electric vehicles.