PUNE: Tata Motors’ decision to introduce the electric version of Nexon SUV was based on several calculations, including the cost factor, Shailesh Chandra, president, electric mobility business and corporate strategy, Tata Motors, said on Friday.Chandra explained that the price range of the electric version was closer to the existing internal combustion engine (ICE) model of the same vehicle. He said the current positive mood on SUVs and the less price sensitive nature of the buyer base in the segment were also behind the decision of launching Nexon electric vehicle (EV). a { color: #000; display: block; border-bottom:0; padding: 0 0 18px; box-shadow: 0 1px 3px 0 rgba(0, 0, 0, 0.25); border-radius:4px; height:100%; box-sizing:border-box; }
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“When you talk about a segment above Rs 10 lakh, the consumers are not very price sensitive. They look for technology and new features. So, I said this is the segment, where we have more opportunity,” Chandra said.
The company also has two versions of Tigor electric car — the 213km range car aimed at the fleet segment (where maximum electric cars are sold) and the 140km range car aimed for the government offices, whose tender the company won about two years ago.
Chandra said the company does not have a production number in mind for the Nexon EV but it can ramp it up very quickly, given that it is already doing the ICE version of the Nexon at its factories.
Tata Motors is also hoping that it will have an edge over its competitors due to the price range of the Nexon EV.
“The price of EVs available in the market now is 2-2.5 times of the comparable ICE cars… Research showed us that if the EV price is within 25% premium of the ICE car, there is a higher chance of customers buying it. We have tried to optimise and strike the balance between price, range, performance and aspirational features,” Chandra said.
He said that logically a “sustainable” EV version on an entry level car (equivalent of the Tiago) is still some 2-3 years away till the price of the batteries come down.