Tata Motors has announced that it will hike prices of the Tiago EV, its cheapest electric vehicle, by three to four percent. The exact amount will be announced in January, and should take the price of the Tiago EV up by Rs 30,000-35,000.
- Introductory prices for Tiago EV range between Rs 8.49 lakh-11.49 lakh
- Tiago EV shares many components with ICE-powered Tiago
This price hike was expected, since Tata Motors had said, at launch, that the introductory prices were valid for the first 10,000 customers only. It was subsequently extended to the first 20,000 customers as the Tiago EV received tremendous response – to the extent that there were some early customers who could not complete their online booking.
Talking about the price increase, Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passengers Electric Mobility, said that the hike is not just related to the introductory prices. Another factor is that “battery prices have increased by 30-35 percent, and it is not fully passed on to the buyers.”
Chandra also mentioned certain factors that will allow Tata Motors to not increase the price of the Tiago EV by a significant margin: the EV shares a lot of components with the petrol hatchback, and the electric drivetrain components and materials used have a lot in common with the Nexon EV and Tigor EV.
Another observation by Tata Motors is that the Tiago EV's bookings make up 30 to 35 percent of all Tiago bookings. However, for other EVs in its line-up, it hovers around the 20 to 25 percent mark. The brand also announced that it is planning 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.
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Tata Tiago EV: prices
Currently, the Tiago EV is priced between Rs 8.49 lakh-11.49 lakh (introductory, ex-showroom, India). Here’s a breakup of the current prices of the electric hatchback:
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