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New Delhi. The rising prices of petrol and diesel have completely changed the minds of car buyers. According to a report, now people, especially small car buyers, are choosing electric vehicles instead of petrol engines. For this reason, there has been a tremendous increase in booking of electric vehicles (EVs). A senior Tata Motors official told The Economic Times that in the small car segment, customers are rapidly shifting from petrol to electric. The company says that EV bookings have increased two and a half times in the last two months. The company has played a big bet by offering 'Lifetime Warranty' on the battery for the first time in this segment, so that customers can buy Tiago EV without any worries.

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One out of every three vehicles is electric

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, told the media that people's reaction to electric cars is surprising. He said that the situation has completely changed in the last 15 days and now people are taking more interest in electric vehicles than two-three weeks ago. Currently, the share of electric vehicles in the entire automobile market is about 5.5%, but one out of every three vehicles received by Tata Motors this month is electric.

People preferring CNG or electric

The biggest reason for this big change is the rising prices of petrol. Shailesh Chandra explained that petrol prices have increased four times in the last 11 days. Therefore, customers in the entry-level and hatchback segments are now considering other fuel options instead of postponing the purchase. Explaining a simple calculation, Chandra said that if petrol becomes costlier by Rs 10, then the budget of an average customer who uses 100 liters of petrol every month increases by Rs 1,000, which has a direct impact on his monthly expenditure. In future, among vehicles priced below Rs 15 lakh, the maximum pressure will be on petrol models and people will give preference to CNG or electric vehicles.

Lifetime Battery Warranty for the first time

Catching the pulse of the customers, Tata Motors has introduced the new Tiago EV not just as a hobby or luxury, but as a smart money-saving option. The company provided data from its existing 75,000 Tiago EV owners, who have driven a total of 2 billion kilometers so far. Based on this data, Chandra claimed that if a customer drives an average of 1,500 kilometers a month, he can recover the full cost of the car in four to five years by saving on petrol expenses. Apart from this, to remove the fear of battery damage from the minds of customers, the company has taken the great decision of offering Lifetime Battery Warranty for the first time.