Tata Nexon is the best selling electric car in India currently – It comes with a 8 years or 1.6 lakh kms warranty
Tata Motors is currently No 1 when it comes to electric car sales. With Nexon EV Prime, Nexon EV Max, Tigor and newly launched Tiago EV, Tata has electrified its popular 4W portfolio. This is likely to strengthen Tata’s grasp on this segment even further. Despite India being a young market for EVs, we have seen good reception for Tata’s electric products.
This is reflected in sales charts and places Tata at the top spot with 82.80% of electric car market in September 2022. Majority of these sales are because of Nexon EV, which does not have a direct rival as of now. Mahindra XUV400 is coming soon to crash Nexon EV’s party.
Nexon EV Battery, Motor Price Revealed
Compared to petrol / diesel cars, electric cars are expensive. This is largely due to the price of battery and electric motor, which are the two most expensive parts in an electric car. Recently, a Nexon EV user had taken to social media to reveal that its battery costs Rs. 7 lakh. Now another Nexon EV owner has shared the price of an electric motor. It costs Rs. 4,47,489. This is MRP for “Traction Motor Assembly”.
There is no doubt that these are very expensive parts. But they are covered under warranty. Tata Nexon offers a warranty of 8 years of 1.6 lakh kms on the battery. If the battery malfunctions in this period, you will get a new battery free of cost.
Nexon EV owner from Karnataka drove 68,000 km in two years. The range had reduced significantly and the car would stop when battery’s state of charge went below 15%. Since it was under warranty, Tata Motors replaced the old battery with a new one at no additional cost.
Will Electric Car Prices Reduce?
Spare parts always have a profit margin compared to what goes on the car during production. The combined cost of Tata Nexon battery and electric motor is almost Rs 11.5 lakh. That does look like a lot when considering the price of a new Nexon EV.
As with dealership business models, following a big ticket purchase, i’e., a car, dealerships create earning channels through service plans. With EVs, service channels are still being developed. Another component that could play an important role is reusing batteries in their second life and third life avatars.
We can hope that with time, localization will increase and due to mass manufacturing, EV component prices will come down. If that happens, we may witness a fall in EV component prices. Tata Motors has announced huge investments to increase production of their electric cars.