New Delhi: The electric revolution may arrive sooner than we think. Tata Nexon EV is now selling at par with the diesel version in markets where the EV is available.
The EV saw 1,715 units sold in the April-June quarter. The numbers exceeded that of the diesel version in Maharashtra, the biggest car market in India, and also Gujarat.
The factors driving this rise in demand are continuous surge in petrol and diesel prices, as well as subsidies provided by state governments.
With a Rs 1 lakh subsidy, the top-end diesel variant of the Nexon and base EV prices are very close.
“The order book for Nexon EV in July is neck to neck to the diesel variant. The combination of FAME 2 benefits and subsidies provided by the state government is making EVs extremely attractive,” said PB Balaji, Chief Financial Officer, Tata Motors.
” The Nexon EV is not available across the country. We won’t be surprised if the penetration starts touching 5 percent very soon and that’s pretty meaningful because just 2 years ago the share was just 0.2 per cent,” he added.
Apart from being greener for the environment, EVs have much lower running costs. The Nexon EV has a running cost of less than Re 1 per km while diesel variant costs around Rs 6 per km.