JSW MG Motor India is known to bring innovative vehicle ownership programs in the country. It has to be noted that it was JSW MG Motor India that brought BaaS pricing model for the first time to Indian car buyers. The company also had an assured buyback program to offer a fixed resale value at the end of 3 years.
Now, the company has just launched an extended assured buyback program called ‘Value Promise’ which extends the previous 3 year tenure to an industry-first 5 year tenure to eliminate resale concerns of EV buyers in India where electric car segment is still in nascent stage. Let’s take a closer look.
MG Extended Assured Buyback Program
In an industry-first move, JSW MG Motor India has just launched an extended assured buyback program called ‘Value Promise’ to Indian EV buyers. Previously, the company only offered an assured buyback program that covered 3 years of tenure, promising up to 60% of assured value to EV owners after 3 years.
With Value Promise, this is now extended to 5 years of tenure and the program promises 40% to 60% of assured value. The assured value depends on the plan buyers select and the assured value changes with specified periods of 3 year, 4 year and 5 year. Also, MG states that this assured buyback program operates independent of any loans and finance schemes.
Previously, assured buyback was only offered to private buyers, which is now extended to commercial ZS EV owners and fleet operators as well for vehicles up to 3 years in age and has a mileage of 60,000 km per annum.
JSW MG Motor India’s new Value Promise extended assured buyback program is facilitated by Lockton India Insurance Broking and Advisory Ltd in partnership with Zuno General Insurance. This program aims to help EV buyers reduce depreciation risk of EVs for a tenure of up to 5 years, allowing buyers to choose whether to retain, return or upgrade to another MG vehicle.
Statement from JSW MG Motor India
Speaking about this innovative buyback program, 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. 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 a Assured resale value where a customer has 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.”
Also read – 2026 MG Hector launched in India
Source: Electric - rushlane.com
