JSW MG Motor India has introduced an expanded assured buyback programme for its electric vehicles, aiming to reduce long-term ownership uncertainty for EV buyers. Branded as the MG Value Promise, the initiative extends the earlier three-year assured buyback scheme to a tenure of up to five years. The company describes this as an industry-first move. Under the previous programme, MG guaranteed up to 60 percent of the vehicle’s value after three years. The updated structure allows customers to choose a tenure of three, four, or five years, with assured resale values ranging between 40 percent and 60 percent depending on the selected plan and duration.
How The Value Promise Programme Works
The assured buyback scheme gives buyers flexibility at the time of purchase by letting them lock in a resale value for a defined ownership period. At the end of the chosen tenure, customers can either retain the vehicle, surrender it and receive the assured value, or upgrade to a newer MG model. Importantly, the programme operates independently of any loan or finance package. This means buyers can opt in for it regardless of how they fund the purchase. MG states that this structure helps lower depreciation risk, a key concern in a market where electric vehicle resale trends are still evolving.
Models Covered & Commercial Use Provisions
The MG Value Promise applies to all three electric vehicles currently sold by the brand in India. These include the Comet, the Windsor, and the ZS EV. Private buyers of these models can opt for assured buyback tenures of up to five years. MG has also extended resale value benefits to commercial users of the ZS EV, although this is limited to a three-year period or 60,000 km, whichever comes earlier. This inclusion targets fleet operators who often factor predictable residual values into total cost calculations.
Role Of Insurance Partners & Market Impact
The assured buyback programme is facilitated by Lockton India Insurance Broking and Advisory Ltd in partnership with Zuno General Insurance, adding a structured insurance-backed mechanism to the resale assurance. MG positions this initiative as part of a broader effort to build confidence in electric mobility, alongside earlier steps such as Battery-as-a-Service (BaaS) and lifetime battery warranty for first owners on the Windsor EV.. By offering a longer assured resale window of up to five years, the company aims to address hesitation around depreciation. This will help in making EV ownership decisions easier as electric mobility is growing but still at an early stage.
