Tata Motors, in partnership with Orix India, has introduced subscription plans for its electric SUV, the Nexon EV.
The plans have been introduced in Delhi-NCR, Mumbai, Pune, Bengaluru and Hyderabad, with a choice of three tenures — 18 months, two years and three years. Customers can only opt for the Nexon EV in its mid-spec XZ+ trim.
Customers are required to pay a refundable security deposit of ₹50,000 at the time of subscribing to the Nexon EV, before paying fixed monthly fees depending on the plan selected — ₹48,000 for 18 months, ₹45,000 for 2 years and ₹42,000 for 3 years. Putting it in perspective, the shortest tenure would total ₹8.64 lakh, while the 3-year tenure will see a user shell out ₹15.12 lakh – a little more than the ex-showroom cost of the Nexon XZ+.
Orix will also provide a home charger with up to 15 metres of wiring and take care of routine services. Subscribers are allowed to rack up a maximum of 1,500km per month with additional kilometres chargeable at ₹7/km. Total annual usage is capped at 18,000km. In case the user wants to drive to a remote location where charging may be unavailable, Orix will provide a 30% discount on a self-drive, internal combustion engine vehicle.
Minimum of 18 months
The Nexon EV has a minimum lock-in period of 18 months for the subscription with Orix levying a cancellation charge on returning the vehicle before completion of the lock-in period. The cancellation charge is equivalent to a month’s subscription fee, as well as 25 percentage of the pending subscription fees until the completion of the tenure. On request, Orix will also provide a user the option of buying the Nexon EV they’re using, outright.
The electric SUV comes equipped with a 30.2kWh lithium-ion battery pack paired with an electric motor that makes 129hp and 245Nm of torque.
The e-SUV has a claimed range of 312km on a single charge and can be charged from 0-80% in just 1 hour via a DC fast-charger (compatible with CCS2). Using a standard 15A AC charger, it will take between 8-9 hours to reach full charge.