Subscribing/leasing cars in India is a new concept, which leads to a lot of doubts, especially in the case of electric cars. Last month, Tata Nexon EV subscription plans were announced, and in this article, we answer the five most asked questions.
1. Who is the subscription plan intended for?
The subscription plans are best suited for corporates who lease their company car, people with frequent inter-city job transfers, and expatriates who are in the country for a fixed tenure.
If you frequently switch cars or want to experience EV usership but can’t afford to buy one, these subscription plans provide access to a brand-new Tata Nexon EV without requiring to shell out the full price. The subscriber need not deal with the road tax and registration, insurance renewals, servicing and maintenance.
2. What is included in the subscription plans?
- Usage of Tata Nexon EV XZ+ (with 80 km/h speed limit*) for up to 1,500 km/month and 18,000 km/year
- EV Charger Box and installation at the preferred place (home or office), with 15 metres of wiring
- Registration and road tax
- Maintenance expenses, excluding costs occurred due to negligence
- Roadside Assistance
- Loaner car during the time of regular servicing and accidents if the subscribed car is under service for more than two days, excluding the times when a service is required due to negligence
- Doorstep pickup and drop facility
- Access to petrol/diesel cars along with discount coupons for getting the same
*Regulatory requirement for green and yellow registered plate vehicles
3. What are the different subscription plans, and where are they available?
Tata Nexon EV subscription is available in five cities: Bengaluru, Mumbai, Pune, Delhi-NCR and Hyderabad. Tata Motors announced the following subscription originally, but it changed them earlier this month:
Old Tata Nexon EV subscription plans (incl. 5% GST)
|Tenure||Monthly Subscription Rate|
|18 months||INR 47,900|
|24 months||INR 44,900|
|36 months||INR 41,900|
Revised Tata Nexon EV subscription plans (incl. 5% GST)
|Tenure||Monthly Subscription Rate (Standard)||Monthly Subscription Rate (Special Offer**)|
|12 months||INR 41,500||INR 41,500|
|24 months||INR 44,900||INR 37,500|
|36 months||INR 41,900||INR 34,900|
4. Are there any hidden charges in addition to the subscription amount?
Tata Motors explicitly states that there’s one additional charge, and it’s a refundable security deposit of INR 50,000. It has to be paid after paying the token money (of INR 5,000) for the subscription application. The token money is adjusted against the refundable security deposit, and the final step in the payment process is the monthly subscription amount paid a day prior to the delivery date.
5. Is there an option to buy the subscribed vehicle?
No, Tata Motors does not provide the option to purchase a subscribed Tata Nexon EV during or after the tenure. It is possible to extend the tenure of the subscription, though.
Last week, Tata Motors revealed that it has commenced deliveries of Tata Nexon EV on subscription with pictures of customers on twitter.com. The first delivery happened just days after it announced the limited period subscription offers for the Tata Nexon EV.