JSW MG Motor India has announced a new buyback programme aimed at easing long-term ownership for its electric vehicle customers and addressing resale concerns among electric vehicle buyers. Under this initiative, MG is extending assured buyback coverage for its EVs from the existing three-year period to up to five years, which will offer customers a guaranteed resale value at the end of the selected tenure.
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With this programme, MG EV owners can opt for an assured resale value after three, four, or five years of ownership, depending on the plan chosen. This follows MG’s earlier buyback offering, which assured up to 60 per cent of the vehicle’s value after three years. Notably, the scheme is independent of any finance or loan arrangement, allowing customers to opt in regardless of how the vehicle was purchased.
Speaking about this buyback scheme, Anurag Mehrotra, Managing Director, JSW MG Motor India, said, “As a customer-centric brand, MG has always introduced initiatives like B-a-a-S (Battery-as-a-service), lifetime warranty on EV batteries that make EV ownership a delightful mobility experience. Resale value has been a key consideration for many customers who are considering buying an EV."
He further added, "With our industry-first MG Value Promise Program (Assured Buyback), facilitated by Lockton India Insurance Broking and Advisory Ltd in partnership with Zuno General Insurance, we want to give MG EV owners complete peace of mind as we now offer an Assured resale value where a customer has the option to choose the tenure from 3 to 5 years. We believe this initiative will play a key role in expanding India’s EV market by eliminating a major concern for buyers and building stronger trust in electric mobility.”
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The programme is also applicable to commercial buyers of the MG ZS EV, covering vehicles that are up to three years old or have clocked up to 60,000 km per year. At the end of the chosen tenure, customers can decide whether to retain the vehicle, return it, or upgrade to another MG model.
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