- This is the first time we’re getting a cost estimate for the Nexon EV’s electric motor
- Previous reports have shed light on the price tag of the battery on the electric SUV
- Tata Motors provides 8 years of warranty support on batteries
Although electric cars are becoming more common in India, the segment is currently dominated by Tata with its trio of EVs — Nexon, Tigor, and Tiago. Even though these are among the cheapest EVs in the market today, they cost significantly more than their counterparts. We’ve known for a while now that the high-capacity battery and motor required for EVs are among the key factors of the higher cost. A new report by Rushlane seems to back that up.
The publication cites a Nexon EV user who recently got an up-close look at the electric motor of the Nexon EV, revealing a price tag of Rs 4,47,489 for the component listed as Traction Motor Assembly. This follows another Rushlane report wherein a user got a similar look at the battery of the Nexon EV, carrying a price of Rs 7 lakhs.
The relatively higher price tag is likely to continue for the next few years. However, as the development of battery technology picks up pace in India, these prices are bound to come down over a period of time.
Tata continues to lead the EV pack in India
Bolstered by the arrival of the Tiago EV recently, Tata currently enjoys a market share of over 80% in the country. This is thanks in large part to the Nexon EV, which has been around for a while now. Fellow Indian manufacturers like Mahindra are also launching EVs starting next year, but Tata’s dominance in the region may be hard to dent.
Tata Motors has also managed to build significant trust among EV adopters by offering a warranty of up to 8 years or 1,60,000 kilometres for the battery. This entitles customers to a free battery replacement if any significant issues are reported from the existing battery pack within the warranty period.