Tata Motors and Orix have joined hands to offer subscription service for the Nexon EV, without the hassles of regular vehicle ownership
Tata Motors has announced a subscription service for the Nexon EV, which allows customers to lease the electric SUV instead of buying it. By subscribing to a car, customers do not have to worry about taxes, registration, insurance, maintenance costs, or even downpayment!
The service has been introduced in partnership with Orix, which also handles Maruti Suzuki’s subscription service. There are three plans available at the moment – 18 months, 24-months, and 36 months – and only in major cities like Bengaluru, Delhi/NCR, Hyderabad, Pune, and Mumbai. There are plans to expand the service into other cities in India as well.
The 18-month subscription plan costs Rs. 47,900 per month, while the monthly fees for 24- and 36-month tenures are Rs. 44,900 and 41,900, respectively. There is an 18-month lock-in period, regardless of the plan, during which cancellation of the subscription service will result in a penalty. After the lock-in period, customers can choose to end the service after a month-long notice period.
One can also choose to extend the tenure after the subscription expires, by contacting customer support. If you don’t wish to return the Nexon EV, ever, then you can pay the settlement charges and become its owner instead! Customers will also be provided with a complimentary EV charger at home, with a 15-metre long cable.
To opt for the subscription, customers can head over to the official website Tata Motors and register with their basic details and a self eligibility check. After that, a token amount of Rs. 5,000 has to be paid and relevant documents have to be submitted for credit approval. If your profile is approved, the token amount is adjusted into the refunded security deposit. If denied, the token amount will be refunded in whole.
Interestingly, if a customer wishes to go on a long trip and is unsure about the availability of EV charging points, Orix also offers six discount coupons (30% off), as part of the subscription, for petrol- or diesel-powered self-drive rental Tata cars via MyChoize platform, which is quite a brilliant feature in all honesty.