As a result of the PLI scheme, the price reduction has been made possible.
Tata Motors have reduced prices for the Nexon EV and has also introduced a new trim in the Max line-up. Prices for the Tata Nexon EV now start at Rs 14.49 lakh for the Prime versions and top out at Rs 18.99 lakh for the Max, both prices ex-showroom, India. The Nexon EV Max now also sees a bump in its claimed range which is now rated at 453km.
The reduction in price is a response to the newly Mahindra XUV400, prices of which were announced just two days ago. At launch, the XUV400 undercut the Nexon EV by Rs 85,000 for the top-spec variant. Now, however, both models top out exactly at Rs 18.99 lakh.
Tata Motors has been able to reduce prices for the Nexon EV due to the government’s PLI (Production-Linked Incentive) scheme that incentivizes electric vehicle manufacturing in the country. Essentially, prices for the Nexon EV have come down by Rs 50,000 for the base trim, while the fully-loaded Max XM+ Lux variant sees a price drop by Rs 85,000.
The PLI scheme, which was notified by the government in September 2021, aims to promote incremental production of EVs and electric vehicle components in the country. In March 2022, 75 applicants were approved under the PLI scheme for automobile and auto components.
Tata Motors have also updated the Nexon EV Max with more range – its now bumped up to 453km (MIDC cycle), which is 16km more than the previous claimed range of 437km. There is, however, no upgrade to the 40.5kWh battery, and this has been made possible via a software update. The Nexon EV Max continues to produce outputs of 143hp and 250Nm of torque.
Existing owners of the Nexon EV Max will also benefit from this updated range that will be made available to them via a software update from February 15. There's, however, no range update on the Prime versions that come with a smaller 30.2kWh battery.
New XM trim
The Nexon EV Max also sees the addition of a new entry-level XM trim. Priced at Rs 16.49 lakh, its pretty well loaded with features like electronic parking brake, automatic climate control, ESP, projector headlamps with LED DRLs, push button start, digital TFT Instrument Cluster, connected car tech and rear disc brakes.
This also massively brings down the entry point to the Max variants, prices of which previously started at Rs 18.34 lakh. Deliveries for the new EV Max XM variant will commence from April 2023 onwards.
Interestingly, this reduction in price of the Nexon EV comes just days after Mahindra launched.
The company's total revenues increased by 29.79% during Q3FY23 to Rs 781.10, compared to Rs 601.82 in Q3FY22
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