Tata Motors has finally revealed the subscription prices for the Nexon EV, which starts at INR 41,900 (US$ 559) per month. Subscribers can choose between 18, 24 or 36 months tenure. The subscription service will initially be available in five Indian cities: Bengaluru, Delhi/NCR, Hyderabad, Mumbai and Pune.
| Tenure | Per month (including taxes) |
| 36 months | INR 41,900 |
| 24 months | INR 44,900 |
| 18 months | INR 47,900 |
Tata Motors has changed the minimum subscription tenure from the initially announced 12 months to 18 months, and the EV will be available only in the mid-spec XZ+ trim.
The company has partnered with Mumbai-based Orix Auto Infrastructure Services Limited to launch this subscription service. The price includes vehicle registration & road tax, insurance, roadside assistance, and free maintenance with periodic servicing and doorstep delivery.
At the end of a selected tenure, the subscriber can extend the subscription or return the vehicle, or even become the owner by paying a settlement charge.
| Nexon EV XZ+ | |
| Outright purchase | Subscription (total payment) |
| INR 14,99,000 (ex-showroom) | 18 months: INR 8,62,200 |
| 24 months: INR 10,77600 | |
| 36 months: INR 15,08,400 | |
Now, let’s do a quick math, shall we? If a subscriber goes for a minimum commitment of 18 months: 47,900 x 18, the individual will end up paying INR 8,62,200 in total, which is obviously, a ridiculous amount when you compare it to XZ+ trim’s ex-showroom price of INR 14,99,000. For a 24 month tenure, a subscriber will pay INR 10,77,600, which doesn’t make sense either.
The 36 month tenure costs INR 15,08,400 in total, which is INR 9,400 more than the aforementioned ex-showroom price. However, when you compare it to an approximate on-road price of INR 17,44,000 (XZ+, Delhi), it might make sense as the subscriber can own the vehicle at the end of the tenure. But remember, there’s some kind of a “settlement charge” to do that.
There are also a bunch of conditions listed here, which includes capping of usage to 1,500 km per month or 18,000 km per year. Excess km would be charged at INR 7 per km. And, did we mention that the top speed is capped at 80 km/h (50 mph)?
Well, this sucks!
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