In a bid to allow more people to have an ownership experience of the electric Nexon, Tata Motors has drawn up a new leasing/subscription model.
Tata Motors in association with Orix Auto Infrastructure Services has introduced a new subscription model for the Nexon Electric in a bid to make its flagship EV more accessible to people. Through this new model, instead of having to buy a Nexon EV, people can lease the car from Orix for a minimum of 18 months and a maximum of 36 months. Users will have to make monthly payments, much like EMIs, for the new car, except for the fact there is no hefty down payment. In fact, users do not have to shell out any additional amount for insurance, maintenance, roadside assistance, etc. The monthly payment differs depending on the number of months of the lease. As of now, there are three subscription plans on offer for 18 months, 24 months, and 36 months.
Here’s a breakdown of the subscription model, which is inclusive of taxes:
|Subscription Tenure||Monthly Subscription Rate|
|18 months||Rs. 47,900|
|24 months||Rs. 44,900|
|36 months||Rs. 41,900|
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 the shared economy.'
Once subscribed, Tata Motors will have the fast charger for the Nexon EV installed at your home or workplace, as requested. The Nexon EV has been priced from Rs 13.99 lakh to Rs 15.99 lakh (ex-showroom). The new subscription model will not only make the electric car more affordable but will also open up prospects for corporates to lease the Nexon EV to its officials.
Also read - Tata Nexon Electric Review