Tata Motors announces subscription plan for the Nexon EV
Tata Motors has announced a first-of-its-kind subscription model for the Nexon EV, designed to make EVs more accessible to a rapidly growing base of environment conscious citizens. This is the first time a subscription plan is being offered on a long-range electric vehicle.
The all-inclusive subscription plan for the Tata Nexon EV starts at Rs 41,900 per month. Customers have three rental options to choose from – 18 , 24, or 36 months. Through a collaboration with Orix Auto Infrastructure Limited, a leasing company operating on a national level, the rental plan for the Tata Nexon EV in this inaugural phase is being offered in five major cities – Delhi/NCR, Mumbai, Pune, Hyderabad and Bengaluru. The cost includes insurance coverage, road side assistance, and free maintenance with periodic servicing and doorstep delivery. Subscribers can also have a complimentary EV charger installed at the home or office, as per convenience.
Announcing the launch of this unique EV subscription programme, Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors said, “EVs are the future, and as the leader of this fast-growing segment, Tata Motors is committed to popularise their access and use in India. With this novel subscription model, we are making it more convenient for interested users of EVs to experience their myriad benefits. It is ideal for customers preferring ‘usership’ over ownership in the rapidly growing era of shared economy.”
Here are the costs depending on the subscription plan
36 months: Rs 41,000/month (Rs 14.76 lakh for three years)
24 months: Rs 44,900/month (Rs 10.77 lakh for two years)
18 months: Rs 47,900/month (Rs 8.62 lakh)
The Tata Nexon EV starts at Rs 13.99 lakh for the base variant and goes up to Rs 15.99 lakh for the fully loaded model. These are ex-showroom prices. The on-road price of the Nexon EV would be much higher considering GST (5 per cent on EVs), registration fees, road tax and insurance cover among other costs. In that case, the all-inclusive subscription model does make more sense, especially for buyers who switch to newer models after every two or three years.