GST cut: Tata Motors slash EV prices by up to Rs 80,000

Mumbai (1 MIN READ):  Automobile major Tata Motors on Thursday reduced prices of its electric vehicle (EV) — Tigor EV — by up to Rs 80,000 on the back of the recent cut in GST rates of all electric-powered vehicles.

“In light of the recent announcement made by the government to slash the GST rates of all electric-powered vehicles from 12 per cent to 5 per cent, the price of Tata Motors’ EVs, will be reduced by up to Rs 80,000 starting August 2019,” said Shailesh Chandra, President – Electric Mobility Business and Corporate Strategy, Tata Motors.

Recently, the GST Council slashed rates on all electric-powered vehicles from 12 to 5 per cent.

The price reduction will be valid across all the variants of Tigor EV — XE (base), XM (premium) and XT (high) — the company said.

Accordingly, the Tigor EV, which was earlier priced between Rs 12.35 lakh to Rs 12.71 lakh (ESP Mumbai), will now be available to customers at a starting price of between Rs 11.58 lakh to Rs 11.92 lakh.

However, these prices do not include the FAME (Faster Adoption and Manufacture of Hybrid and Electric Vehicles) subsidy and tax collected at source (TCS).

 Published on: Aug 1, 2019 at 19:45 IST

IANS