India, Feb. 14 -- Tata Motors' subsidiary Tata Passenger Electric Mobility (TPEM) on Tuesday announced reducing the price of Nexon.ev and Tiago.ev, intending to make EVs more accessible to Indian customers.

"The Nexon.ev gets a price reduction of up to Rs. 1.2 Lakh," the company said in a statement.

The price of Tiago.ev was reduced by up to Rs. 70,000 making the base model to start at Rs. 7.99 Lakh.

In CY2023, the EV segment grew by over 90% against the 8% growth recorded by the PV industry.

Growth in EV sector

This growth momentum has continued in CY2024 with EV sales registering 100% YoY growth in January 2024. TPEM with over 70% market share is the market leader in this fast-growing segment.

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