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Tata Motors on Thursday said it has slashed its electric vehicles (EVs) prices by up to ₹80,000 following government’s decision to bring down the GST on electric vehicles to 5 per cent. As of now, Tata Motors offers Tigor EV in the domestic market. The price reduction will be applicable across all the variants of Tigor EV, the company said.
In light of the recent announcement made by the government to slash the GST rates of all electric-powered vehicles from 12 per cent to 5 per cent, the price of Tata Motors EVs, will be reduced by up to Rs 80,000 starting August,” said Shailesh Chandra, president for electric mobility business and corporate strategy, Tata Motors.
Following the cut, the Tigor EV which was earlier priced between ₹12.35-12.71 lakh (ESP Mumbai) will now be available to customers at a starting price of ₹11.58-11.92 lakh, the company said. “However, these prices do not include the FAME (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles) subsidy & TCS,” said Chandra.
Last week, the GST Council announced slashing of the GST rate on EVs to 5 per cent from 12 per cent to boost the sales of these vehicles in the country. The price reduction will be valid across all the variants of Tigor EV - XE (base), XM (premium) and XT (high).
Read more: GST on electric vehicles, chargers slashed
Tata Motors has earlier this week announced its plans to have electric variants of four models, including an all- electric versions of the Nexon compact SUV and the to be launched Altroz hatchback, among others.
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