As Tesla prepares for India debut, Tata Motors announces special offers on electric vehicles

Tata Motors, India’s leading electric vehicle manufacturer, has rolled out limited-period offers to mark a significant milestone of surpassing 200,000 EV sales. For a duration of 45 days, customers can take advantage of benefits such as an exchange bonus of up to Rs 50,000, full on-road financing with zero down payment, and additional perks. This announcement coincides with growing speculation about Tesla’s entry into the Indian market under Elon Musk’s leadership.

As part of its celebratory initiative, Tata Motors is offering an exchange bonus that reaches up to Rs 50,000, along with financing options that allow buyers to cover the entire on-road cost of their EV without any initial payment. Those purchasing the Nexon EV or Curvv EV will also receive six months of complimentary access to Tata Power’s charging network, as well as a free home charger installation featuring a 7.2 kW AC charger. Existing Tata customers stand to benefit from loyalty rewards, with Tata EV owners upgrading to a Nexon EV or Curvv EV receiving a Rs 50,000 loyalty bonus. Meanwhile, customers shifting from Tata’s internal combustion engine (ICE) vehicles to an EV will be entitled to a Rs 20,000 loyalty incentive.

The company currently offers five electric models in the Indian market-Tiago EV, Tigor EV, Punch EV, Nexon EV, and Curvv EV-with prices starting at Rs 7.99 lakh. In 2024, Tata Motors recorded sales of 61,496 EV units, a marginal increase from the 60,100 units sold in 2023. However, its market share saw a decline from 73 percent in 2023 to 62 percent in 2024. Looking ahead, Tata Motors showcased its future lineup at the Bharat Mobility Global Expo 2025, where it unveiled the upcoming Harrier EV and Sierra EV, both of which will be launched as all-electric vehicles.

Meanwhile, Tesla is reportedly preparing to establish its presence in India by April 2024, with plans to import cars from Germany at a starting price of Rs 21 lakh. The company is also said to be recruiting for various roles in sales, service, and customer support across India. Reports suggest that Tesla is considering introducing more affordable EV models priced around $25,000 (approximately Rs 21 lakh) to cater to Indian consumers. Delhi and Mumbai have been identified as key markets for Tesla’s entry, with potential showroom locations shortlisted in Mumbai’s BKC area and Delhi’s Aerocity.