Tata Motors Ltd. has cut prices of its electric vehicles by up to Rs 80,000 to pass on the benefits of a GST rate cut on EVs to consumers.
The automaker, at present, sells only one electric car model in India—the Tata Tigor EV. The price cut, however, will be applicable across all its variants—XE (base), XM (premium) and XT (high).
The GST Council had on July 27 cut the goods and services tax on EVs from 12 percent to 5 percent, with an aim to boost the adoption of electric mobility in the country.
The Tigor EV will now have a price range of Rs 11.58 lakh to Rs 11.92 lakh as against Rs 12.35 lakh to Rs 12.71 lakh. These prices are ex-showroom, Mumbai.
These prices do not include the FAME II (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles) subsidy.
Tata Motors has earlier this week announced its plans to have electric variants of four models, including Nexon Compact SUV and the upcoming Altroz hatchback.
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