Pricing of Tata Nexon EV

Tata Nexon EV, a sub-4 meter hatchback is priced much higher than the competing sub-4 meter hatchback cars, e.g., the petrol Nexon (priced between 7.5 lacs and 14 lacs). The running cost of the EV is 0.97/km. as compared to 6.12/ km. for the petrol car at the current fuel price. An EV customer is expected to spend 35% less on maintenance.The battery can be charged easily at home through a fitting that comes with the car. The battery life of the EV is 8 years.

Discussion question

At an average running of 15000 km/ year, what should be the customers' willingness to pay for the base model of Tata Nexon EV?

Estimated WTP for base-model of Tata Nexon EV?

Justification/ Calculation?