Tata reduced the price of electric vehicles.

Tata Motors has reduced the price of its electric vehicles by almost Rs 1.20 lakh.

Tata Motors,

Vivek Srivatsail, Chief Commercial Officer of the company said

Tata Passenger Electric Mobility, the electric vehicle arm of Tata Motors, has slashed the prices of its electric cars significantly, following a drop in battery prices for electric vehicles.

In the overall cost of an electric vehicle, the cost of the battery comprises a significant portion.

As the cost of batteries has decreased recently and is expected to decrease further in the future, we have proactively reduced the prices of our electric car models to benefit our customers.

Accordingly, the price of the 'Nexon' electric vehicle has been reduced by Rs 1.20 lakh and now, it starts at Rs 14.49 lakh.

Similarly, the price of the 'Diago' model is up to 70,000 rupees Reduced and now, it starts at Rs 7.99 lakh. The recently launched 'Punch' model, which already includes a battery price cut, remains unchanged in its price.

Global Lithium Ion Battery Price,

2013..48,360. 2014..40,828. 2015...27,776. 2016..22,770. 2017...16,512. 2018...15,614. 2019..12,810. 2020..11,680. 2021..10,950. 2022...12,075. 2023...11,537. (kWh) in the value of Rs.

 Source: Bloomberg NF,

The growth of the electric vehicle industry is higher than the growth of the overall passenger vehicle industry.

Although electric vehicles have been on the rise over the past few years, our aim is to quickly roll them out across the country. This is what he said..