Tata Motors cuts prices of electric cars by up to Rs 1.2 lakh

New Delhi, Feb 13: Tata Motors on Tuesday cut the prices of its electric cars by up to Rs 1.20 lakh as the company passed on to consumers the decline in the cost of battery cells of electric vehicles.

Tata Passenger Electric Mobility will now sell its top-selling Nexon.ev at Rs 14.5 lakh -- down by Rs 20,000 -- while the price of its small electric car Tiago was reduced by Rs 70,000. The price of the long-range Nexon EV will now start at Rs 16.99 lakh.

"With battery cell prices having softened in the recent past and considering their potential reduction in the foreseeable future, we have chosen to proactively pass on the resulting benefits directly to customers," Vivek Srivatsa, Chief Commercial Officer at the TPG-backed company said in a Press release.