Tata Motors is stepping up its game in the electric vehicle (EV) market by aligning the prices of its new Curvv SUV with those of conventional internal combustion engine (ICE) vehicles. This move is seen as a strategic effort to invigorate its EV sales amid a broader industry slump.
Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, emphasized that the company’s pricing strategy for the Curvv EV is not intentionally lower than that of ICE vehicles but is a result of decreased battery costs, cost optimization, and lower GST rates for EVs compared to their gasoline counterparts.
The Curvv SUV, unveiled on August 7, comes with two battery options—45kWh and 55kWh. Priced between ₹17.49 lakh and ₹21.99 lakh (ex-showroom), it represents Tata Motors’ push into the premium SUV segment after previously focusing on more budget-friendly options. The Tiago EV, Tata’s most affordable EV, starts at ₹8 lakh.
The Curvv’s pricing strategy positions it as a viable alternative to mid-SUV ICE models like the Hyundai Creta, though it could potentially impact sales of Tata’s own Nexon EV, which caters to a different market segment. Despite concerns over internal competition, Tata Motors stresses that the two models target distinct buyer profiles.
Chandra clarified that the pricing of the Curvv EV aligns with the company’s margin goals and is not meant to undercut ICE vehicles deliberately. The significant reduction in battery costs, driven by falling cell prices and localization efforts, has enabled Tata to offer competitive pricing.
Tata Motors also plans to release an IC-engine version of the Curvv, built on the new ATLAS platform, with pricing details yet to be announced. This move is expected to bolster Tata’s presence in the crowded SUV market, complementing its successful Punch and Nexon EV models.
Addressing challenges in EV adoption, Chandra noted that while pricing is a critical factor, issues like inadequate charging infrastructure and long charging times also contribute to slower EV uptake. The Curvv EV features fast-charging capability, providing a 150 km range in just 15 minutes with a 70kW or higher charger.
The company saw a drop in EV sales in July and early fiscal quarters due to a surge in fleet purchases before FAME subsidies were reduced. However, Chandra anticipates a rebound in EV sales during the second half of the fiscal year, driven by the upcoming festive season.
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