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Tata Motors anounces monthly subscription model for Nexon EV
Mumbai, August 6, 2020
Automobile manufacturers Tata Motors today announced the launch of a first-of-its-kind subscription model for electric vehicles (EVs) as part of which its flagship EV Tata Nexon will be available at an all-inclusive fixed rental starting at Rs 41,900 per month.
The scheme is designed to make EVs more accessible to a rapidly growing base of future-conscious citizens, a press release from the company said.
"Discerning customers can select the tenure of their subscription from a minimum period of 18 months to 24 and 36 months. Through a collaboration with Orix Auto Infrastructure Services Limited, amongst India's top leasing companies, this service is being offered in 5 major cities - Delhi/NCR, Mumbai, Pune, Hyderabad and Bengaluru, during the inaugural phase of the launch," it said.
According to the release, the monthly subscription rate, inclusive of taxes will be Rss 41,900 for a tenure of 36 months, Rs 44,900 for 24 months and Rs 47,900 for 18 months.
"With no hassle of vehicle registration and road tax, the entire process of subscribing to the Tata Nexon EV has been made seamless via end-to-end digital engagement. Additional benefits include comprehensive insurance coverage, on call roadside assistance plus free maintenance with periodic servicing and doorstep delivery. Additionally, customers can have their own EV charger installed at their home or office, as convenient," the release said.
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 shared economy.”
The release said the subscription model is customised and perfectly suited for corporates who prefer to lease, individuals with frequent inter-city job transfers, and expatriates who stay for a fixed tenure, among others.
"Further, the partnering with Orix Auto provides a comprehensive value proposition, inviting customers to easily experience the magic of EV. Post the tenure of their subscription, customers can either choose to extend it or just return the vehicle," it said.