- 12 May 2022
- ICICIdirect Research
TATA MOTORS UNVEILS NEW NEXON EV WITH BIGGER BATTERY, HIGHER RANGE
TATAMOTORS - 817 Change: 24.25 (3.06 %)News: Tata motors unveiled pricing of Nexon EV max (40.5 Kwhr battery, certified range 437 km) with stating at ₹17.74 lakhs i.e. ~₹1.5 lakhs expensive than the regular EV variant (30.2 Kwhr battery, certified range 312 km). Nexon EV max also comes with an optional 7.2 Kw AC fast charger at an additional cost of ₹ 50,000 which can be installed either at home or workplace (reduces charging time to 6.5 hrs).
Views: From the customer standpoint, Nexon EV Max comes out as the most lucrative/competitive EV model aptly addressing the range anxiety and being affordable at the same time. It’s foreign competition with similar or slightly better range (MG ZS EV: 50.3 Kwhr battery with certified range :461 km and Hyundai Kona: 39.2 Kwhr battery with certified range of 452 km) is priced at >= ₹ 22 lakh. This will further help Nexon EV to retain its market leadership in the domestic electric PV segment. Nexon EV max is also equipped with all modern new age features such as ventilated seats for front passengers, air purifier, wireless smartphone charging, auto-dimming IRVM and cruise control. Its enhanced safety features include ESP, Hill Hold, Hill Descent Control, Electronic Parking Brake with Auto Vehicle Hold and all 4-Disc brakes. It is also a connected vehicle in true sense.
Impact: Positive