And relentless hard work from several teams using Tata Motors and the Tata ecosystem, as well as our value chain partners. Most importantly, this is the result of customers who took a leap of faith in a new technology for sustainability. Celebrating 250,000 Tata EVs is not about a destination but about a journey with nation-building intent, taking the right products and partnering with the right ecosystem. As we celebrate, let's take you through the journey that made India's EV story come to life. Back in 2018, India's EV story did not begin in a ready market; it began with creating a market for something most people had never experienced. Buying a car is often the second most important financial decision after a home. Indian consumers are practical, value-conscious, and cautious with new technologies. Imagine asking them to choose an unfamiliar technology with no charging infrastructure at a higher price. Yet that was the reality: EVs were slow, boring, small, had less than 110 km range, charging was non-existent with fewer than 200 chargers, and prices were nearly double that of ICE vehicles. Annual demand was under 2,000 vehicles, battery cells cost over $200/kWh, and supply chain was nascent. There was no business case, so most chose not to invest. But to combat climate change, air pollution, and energy dependence, India needed zero-emission mobility. 14 of the world's 20 most polluted cities are in India, and we depended on imported oil. The government set a bold target of 30% EV penetration by 2030, slashed GST to 5%, waived road tax, and offered incentives. Yet most players were skeptical, arguing for transitional technologies. Where others hesitated, Tata Group took a bold step based on deep conviction. We created a Tata universe: Tata Power seeded the charging ecosystem, Tata Auto Components localized components, Tata Lex and TCS developed software, and Tata Motors Finance supported fleet buys. At the center, Tata Motors developed EVs and synchronized actions. We started by addressing customers through a comprehensive survey called Project Mando. The barriers were range anxiety, charging anxiety, high price premium, and technology uncertainty. Customers said they wanted a minimum real range, a price premium no more than 25%, simple and reliable home charging, and genuine warranties. With these insights, we developed the Nexon EV in just 16 months and launched it in January 2020. It offered 230+ km real-world range, 8 years/160,000 km battery warranty, free home charger, and registration, plus a thrilling drive. Early customers became advocates. Nexon EV evolved with two life cycle interventions, now offering 375 km certified range, price parity with ICE, and lifetime battery warranty. Volumes grew from 300 to 3,000 per month. Today, Nexon EV has become the first Indian EV to cross 1 lakh cumulative sales. Now, let's watch a short video capturing this journey.
Nexon EV is India's most loved, most popular default EV. It changed the game for EVs in India. A revolutionary product that made India evolve to electric, it was India's first mainstream EV. It addressed every consumer need: fully practical with 200 km+ range, peace of mind with 8-year battery warranty, completely safe and spacious, premium features, and for the first time, end-to-end personalized free home charger installation. All at a limited price premium of less than 25%. Localization began early. Early adopters became opinion leaders, and positive word of mouth spread. Nexon EVs became a regular sight. We didn't stop there; the Nexon EV kept evolving with more range, technology, and trust. It started an entire category, became India's default EV, and the numbers say it loud: it's the OG EV that leads the way.
