Wednesday, 31 July 2019

Tata Motors to launch 4 new electric vehicles in India by 2021-end, Nexon EV to be one of them

Tata Altroz EV

Tata Motors will launch as many as four new electric vehicles (EVs) in India over the next 12 to 18 months. The announcement was made by Tata Motors Chairman N Chandrasekaran during an interaction with the shareholders at the 74th Annual General Meeting. Among the vehicles to be introduced are Altroz EV, Nexon EV, Tigor EV's fresh version and an undisclosed model.
As of now, Tata Motors offers Tigor EV in India, which is available in two variants -- XM and XT. Tata Tigor EV comes with a 72 V 3-Phase AC induction motor that makes 30 hp and 105 Nm of peak torque. It is offered with a single speed, automatic transmission. The car gets a 16.2 kWh capacity battery and has a range of 142 km. The vehicle comes with a standard warranty of three years or 1.25 lakh kms. The battery warranty is also for three years or 1.25 lakh kms. While Tigor EV XM is priced at Rs 9.99 lakh, Tigor EV XT costs Rs 10.09 lakh. Both the prices are ex-showroom and include TCS, DPCC incentive (in Delhi only) and government FAME incentive.
The carmaker had showcased Altroz EV at the 89th Geneva International Motor Show along with Altroz, Buzzard, Buzzard Sport and H2X Concept. The electric vehicle will get a permanent magnet AC motor with single-speed gearbox. Tata Motors is targeting a range of 250-300 km for Altroz EV, which might be priced over Rs 10 lakh (ex-showroom) in India.
The 2019 Union Budget provided a major fillip to the EV sector in India with the Finance Minister Nirmala Sitharaman announcing an additional tax benefit of Rs 1.5 lakh on the interest paid on the loans taken for the purchase of electric vehicles. The GST rate on EVs has been reduced to 5 per cent from 12 per cent. Besides, the tax rate on chargers or charging stations for EVs has been lowered to 5 per cent from 18 per cent. 

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