JSW MG Motor expands EV buy-back program, eyes faster EV adoption: Details

JSW MG Motor India has announced the expansion of the Assured Buy Back program for its electric vehicle portfolio. The company believes this move will address one of the biggest hurdles to EV adoption in India: uncertainty around resale value.Originally introduced with a tenure of three years, the assured buy back program will now be available for up to five years. This makes MG the first car brand in India to offer guaranteed resale value on an EV for such a long ownership cycle. Under the scheme, customers can expect an assured resale value of between 40 to 60 per cent at the end of three, four or five years, depending on the plan chosen.Speaking about the rationale behind the decision, Lakshmi Subbaraj, Sales Director, explained how customer feedback and usage data played a key role. “One of the biggest fears customers have when considering an EV is what will happen three, four or five years down the road, especially in terms of resale value,” he explains. “Our research shows that the typical replacement cycle for Indian car buyers is between three to five years, and this program is designed to directly address that concern.,

Confidence of EV buyers increased

The Assured Buy Back program comes under MG’s wider ‘EV Sahi Hai’ initiative, which aims to simplify electric vehicle ownership. According to MG, the idea is not just to sell EVs, but to create long-term confidence around ownership, operating costs and future value.The program is supported by Lockton India Insurance Broking & Advisory Limited and powered by Zoono General Insurance. Importantly, MG has emphasized that the buy-back scheme is completely independent of any finance or loan product. This means that customers opting for cash purchases can also enjoy assured resale benefits.

“This is an unconditional program,” Subbaraj said. “There is no mandatory finance linkage, making it accessible to a wider group of buyers.”

Helping ICE buyers switch to EVs

MG has a strong EV portfolio, which includes the Comet EV, Windsor EV and the ZS EV. In fact, more than 70 percent of the company’s current monthly sales come from EVs alone. Recently, the brand crossed the 50,000 EV customers mark and became one of the fastest brands in India to do so.

Applies to all variants and segments

Interestingly, MG says this program is applicable across its mass-market EV range, irrespective of price or variant. Be it the entry-level Comet EV or the higher-spec Windsor or ZS EV, the assured buy-back offer remains the same.“There are different products catering to different needs and segments, and this program is designed to work across all of them,” MG said. He said it has already seen strong interest from customers who value long-term ownership security.

Also includes commercial EVs

For the first time, MG has also extended resale value assurance for its commercial EV customers. Commercial MG ZS EV owners will be eligible for assured buy-back benefits for up to three years or a mileage cap of 60,000 km per annum.“It’s not just for retail customers,” Subbaraj said. “We see strong attraction for EVs in the commercial sector, and this program has become a key differentiator there as well.”Subbaraj sees the expanded Assured Buy Back program as a potential disruptor, much like the Battery-as-a-Service offering before it, which changed the way buyers evaluate EV affordability. “Five-year guaranteed buy-backs on mass-market EVs have never been offered in India,” the company said. “We believe this will become a strong differentiating factor and further accelerate EV adoption.”