JSW MG Motor India has announced a new buyback program aimed at making long-term ownership easier for its electric vehicle customers and addressing the resale concerns of electric vehicle buyers. Under this initiative, MG is increasing the assured buyback coverage for its electric vehicles from the current three years to five years, giving customers a guaranteed resale value at the end of the selected period.
Under this program, MG EV owners can opt for assured resale value after three, four or five years of ownership, as per their chosen plan. This follows MG’s previous buyback scheme, which guaranteed up to 60% of the vehicle’s value after three years. The special thing is that this scheme is independent of any finance or loan arrangement, so customers can avail its benefits regardless of the mode of purchase of the vehicle.
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Talking about this buyback scheme, Anurag Mehrotra, MD, JSW MG Motor India, said, “As a customer-centric brand, MG has always introduced initiatives like BaaS (Battery-as-a-Service) and lifetime warranty on EV batteries, which make EV ownership a pleasant commuting experience. Resale value has been an important factor for many customers considering buying an EV.”
He further added, “With our industry-first MG Value Promise Program (Assured Buyback), launched in partnership with Lockton India Insurance Broking & Advisory Limited and Zuno General Insurance, we aim to give complete peace of mind to MG EV owners, as we now offer an assured resale value, with customers choosing a tenure ranging from 3 to 5 years. We believe this initiative will address a major concern of buyers. “It will play a vital role in expanding India’s EV market by addressing the issue and building strong confidence in electric mobility.”
The program also applies to commercial buyers of the MG ZS EV, which includes vehicles up to three years old or driven up to 60,000 km per year. At the end of the chosen period, customers can decide to keep the vehicle, return it or upgrade to another MG model.
