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Tata Nexon EV Now Available With Monthly Subscription Plans; But Should You Buy One Instead?


Tata Motors is now offering three predefined subscription plans for the Nexon EV

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  • Plans include cost of maintenance, insurance, and road tax.
  • The subscription process can be completed online.
  • You can extend the subscription post your tenure or buy the car.
  • Available only in Delhi/NCR, Mumbai, Pune, Hyderabad and Bengaluru for now.

Wanted to own a Tata Nexon EV but couldn’t commit to one? Well, now is your chance to own one as Tata Motors has introduced a subscription plan for the electric SUV. In simple words, you can drive a brand new Nexon EV for a prescribed time and pay rent for it every month. The homegrown carmaker has joined hands with Orix Auto Infrastructure Services for this initiative. At present, the manufacturer only offers the mid-spec XZ+ variant under this plan. Here are the predefined plans:

Tenure

Monthly Plan (Inclusive of taxes)

18 months

Rs 47,900

24 months

Rs 44,900

36 months

Rs 41,900

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Sure, the rates may seem pricey at first, but if you intend to use the Nexon EV for a limited time, purchasing it on a subscription basis is much better than buying one outright from the showroom. Once the formalities are completed, a charger will be set up at your home and the EV delivered at your doorstep. But before you take the plunge, take a look at some numbers to gauge the benefits of this subscription plan: 

Monthly Tenure Calculation

Total Amount Paid By The End Of Contract

Savings when compared to a Nexon EV XZ+ (Rs 14.99 lakh*)

18 x 47,900

Rs 8.62 lakh

Rs 6.37 lakh

24 x 44,900

Rs 10.78 lakh

Rs 4.21 lakh

36 x 41,900

Rs 15.08 lakh

- Rs 9,000

*ex-showroom price

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The 18 month package makes sense for those wanting a Nexon EV for a short term. The savings swell when you factor in the fact that you don’t have to pay for the registration fees, comprehensive insurance, routine maintenance and road-side assistance, all of which are included in the subscription. Apart from the monthly rent, you only have to spend on the electricity consumption. That said, if you intend to keep your Nexon EV for the long haul (more than two years), it's better to buy it. 

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Subscribing to one makes sense for buyers who want to try out an electric car without committing to one in the long run. Given that EV adoption is still in its nascent stage in India, subscription plans such as this allows buyers to warm up to battery-operated cars. 

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After the subscription term finishes, you can either extend your tenure or  return the vehicle. You can buy the Nexon EV post the subscription period by paying a settlement fee. Subscription plans for the Nexon EV are currently available in Delhi/NCR, Mumbai, Pune, Hyderabad and Bengaluru. Would you prefer to get an electric car on a subscription basis or purchase it outright from the showroom? Let us know in the comments section below. 

Tata Nexon EV Video Review

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