Tata Motors hikes prices of Nexon EV by Rs 25,000

Tata Mototrs has hiked the prices of its Nexon EV across variants by Rs 25,000.

The prices have been hiked across the five variants in which the Nexon EV is offered. After the hike, the XM variant will retail at ex-showroom Rs 14.54 lakhs while the top model Dark XZ+ luxury will cost Rs 17.15 lakh ex-showroom.

Tata Motors has bet big on its EV segment with plans to invest Rs 15,000 crore in next five years.


The company, which is a leader in the newly emerging EV segment with offerings such as Nexon, is also planning to develop around 10 more new offerings in the segment, President for Passenger Vehicles Business of Tata Motors Shailesh Chandra said.

"As far as future is concerned, in next five (years) we will invest Rs 15,000 crore in electrification. We are going to work on nearly 10 products with different kind of body styles, price, driving range options," Chandra said.

The company had raised USD 1 billion in funding from private equity major TPG in its EV division, valuing the business at USD 9.1 billion.