Tata Motors Cuts EV Prices By Up to 8 Percent in India

Indian automaker Tata Motors' electric vehicle (EV) unit on Tuesday said it has reduced prices of its cars by up to 120,000 rupees (~$1,450) in what is the first instance of a price cut by an electric carmaker in the country.

Electric variants currently form just 2% of car sales in India, as buyers are wary about the higher upfront costs despite lower running costs and as range anxiety persists.

"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," said Vivek Srivatsa, Chief Commercial Officer at the TPG-backed Tata Passenger Electric Mobility.