Tata Motors Announces Monthly Subscription Model for its Nexon EV

Tata Motors has launched a subscription model for EVs, under which it is making available the Nexon EV at a fixed rental starting at Rs 41,900 per month.

Tata Motors, one of India’s leading automobile manufacturers, has announced the launch of a first of its kind subscription model for electric vehicles (EV). Designed to make EVs more accessible to a rapidly growing base of future conscious citizens, the company is making available its flagship EV, the Tata Nexon at an all-inclusive fixed rental starting at just Rs 41,900 per month. Discerning customers can select the tenure of their subscription from a minimum period of 18 months (Rs 47,900 pm) to 24 (Rs 44,900 pm) and 36 months (Rs 41,900 pm).

Through a collaboration with Orix Auto Infrastructure Services Limited, amongst India’s top leasing companies, this service is being offered in 5 major cities – Delhi/NCR, Mumbai, Pune, Hyderabad and Bengaluru, during the inaugural phase of the launch.

With no hassle of vehicle registration and road tax, the entire process of subscribing to the Tata Nexon EV has been made seamless via end-to-end digital engagement. Additional benefits include comprehensive insurance coverage, on-call roadside assistance plus free maintenance with periodic servicing and doorstep delivery. Additionally, customers can have their own EV charger installed at their home or office, as convenient.

Announcing the launch of this unique EV subscription programme, Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors said, “EVs are the future, and as the leader of this fast growing segment, Tata Motors is committed to popularise their access and use in India. With this novel subscription model, we are making it more convenient for interested users of EVs to experience their myriad benefits. It is ideal for customers preferring ‘usership’ over ownership in the rapidly growing era of shared economy.”

According to the manufacturer, the model is customised and perfectly suited for corporates who prefer to lease, individuals with frequent inter-city job transfers, and expatriates who stay for a fixed tenure, among others. Further, partnering with Orix Auto provides a comprehensive value proposition, inviting customers to easily experience the magic of EV.

Post the tenure of their subscription, customers can either choose to extend it or just return the vehicle.

It must be noted here that the car retails for Rs 13.99 lakh – Rs 15.99 lakh upfront, and under the 36-month subscription model the users will pay a combined Rs 15.08 lakh over the three year period. After which they will have to return the vehicle. The 18 and 24 months model is worth 8-10 lakh for the duration of the subscription.