Tata Motors to hike Tiago EV price by up to 4% in January 2023, more planned

Launched in October this year, the Tata Tiago EV has been such an enthusiastic response that pre-orders on the company’s website have crashed.Launched on ¥From 849k (ex-showroom, Delhi), introductory pricing is limited to the first 10,000 orders but due to unprecedented demand extended to 20,000 pre-orders. Chandra now says rising material input costs, including batteries, have forced the automaker to raise the price of India’s most affordable EV to date.

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Not only Tiago EV, Tata Motors’ ICE-powered passenger car will also see a price hike next year. The automaker has already announced price increases for its commercial vehicle range, while Chandra said the price increases for passenger vehicles will be in two parts. Rising input costs include not only more expensive raw materials, but also the second phase transition to BS6 due to be implemented in April 2023. As a result, a second price increase for the full range of Tata vehicles will take place later in 2023.

The Tata Tiago EV is the last Gen-1 model from the company. It will now launch the Gen-2 series of electric vehicles, which can provide a range of about 400-500 kilometers on a single charge. Chandra said the new lineup will include existing products as well as possible new nameplates. The automaker is already developing a Gen-3 range (over 500 km) based on the Avinya and Curvv concepts, which will be available in 2025.

(Input from Mint)

First published date: December 22, 2022 at 13:59 PM CST