Tata Motors on Thursday said it has launched a subscription model for electric version of its compact SUV Nexon, making it available to customers at a fixed monthly rental.
Designed to make electric vehicles (EVs) more accessible to a rapidly growing base of future-conscious citizens, the company is making available its flagship Nexon at an all-inclusive fixed rental starting at Rs 41,900 per month, Tata Motors said in a statement.
Customers can select the tenure of their subscription from a minimum period of 18 months, 24 and 36 months, it added.
For 18 month tenure, a customer will have to pay Rs 47,900 monthly subscription fee, for 24 months Rs 44,900 and for 36 months Rs 41,900 per month.
Tata Motors has tied up with leasing firm Orix Auto Infrastructure Services to offer the service in five major cities - Delhi/NCR, Mumbai, Pune, Hyderabad and Bengaluru - during the inaugural phase of the launch.
"EVs are the future, and as the leader of this fast-growing segment, the company is committed to popularise their access and use in India," Tata Motors Passenger Vehicles Business Unit President Shailesh Chandra said.
With this novel subscription model, the company is making it more convenient for interested users of EVs to experience their myriad benefits, he added.
It is ideal for customers preferring usership over ownership in the rapidly growing era of shared economy, Chandra noted.
The subscription model is customised for corporates who prefer to lease, individuals with frequent inter-city job transfers, and expatriates who stay for a fixed tenure, among others, Tata Motors said.