Tata Motors has teamed up with Orix India to provide subscription plans for the Nexon EV; an alternative for those opposed to the idea of buying a car outright.
Orix India has introduced subscription plans for the Tata Nexon EV in five cities – Delhi-NCR, Mumbai, Pune, Bangalore and Hyderabad. There are three subscription tenures to choose from – 18 months, 2 years and 3 years – and the fixed rental fee varies depending on the tenure you choose.
Nexon EV subscription plan on offer in five cities
After paying a refundable security deposit of Rs 50,000, a user will have to shell out a monthly fee of Rs 48,000 for the 18-month plan, Rs 45,000 for the 2-year plan and Rs 42,000 for the 3-year plan. Opting for the shortest tenure would total up to a cost of Rs 8.64 lakh, while picking the longest tenure will see a user shell out Rs 15.12 lakh over 36 months – a little more than the ex-showroom cost of the Tata Nexon EV XZ+, which is also the only variant available on subscription.
Orix subscription plan with 18-month lock-in
For the monthly fee, Orix will provide the Nexon EV, as well as a home charger with up to 15 metres of wiring, and will also take care of routine services. The subscriber is allowed to rack up a maximum of 1,500km a month (additional kilometres chargeable at Rs 7/km), with the annual mileage limit capped off at 18,000km. In case the user wants to drive to a remote location where charging may be unavailable, Orix will provide a 30 percent discount on a self-drive, internal combustion engine vehicle.
18 months is also the lock-in period for the subscription, and if a user returns a car before the completion of the period, Orix will levy a cancellation charge equivalent to a month’s subscription fee, as well as 25% of the pending subscription fees, until the completion of the balance tenure. On request, Orix will also provide a user the option of buying the Nexon EV they’re using, outright.
The Tata Nexon EV has been on sale in India since January this year, when it was launched at a starting price of Rs 13.99 lakh (ex-showroom). It has a 30.2kWh lithium-ion battery pack that powers an electric motor that makes 129hp and 245Nm of torque. Using a DC fast charger (compatible with CCS2) can help quick-charge the Nexon EV from 0-80 percent in just 1 hour. However, using a standard 15A AC charger, it will take between 8-9 hours to reach a full charge. ARAI-certified range for the Nexon EV stands at 312km.