JSW MG Motor India has decided to address one of the main fears among EV buyers—how much the car will be worth in a few years. The manufacturer announced an expanded guaranteed buyback program which, according to the brand, is the first initiative of its kind in the Indian market.
Whereas it previously covered a term of up to three years, customers are now being offered residual value protection for up to five years. An MG EV buyer can choose in advance a 3-, 4-, or 5-year plan and, at the end of the selected term, receive a guaranteed resale price. Depending on the terms, it will amount to 40–60% of the vehicle’s value.
It is emphasized separately that the scheme is not tied to loans or other financial products. In other words, it can be used regardless of how the EV was purchased, which adds flexibility and makes costs more predictable throughout the ownership period.
Interestingly, the program also applies not only to private owners. For commercial MG ZS EVs, resale guarantees are provided for vehicles up to three years old or with annual mileage of up to 60,000 km. In essence, at the end of the term the customer will be able to keep the car, return it to the manufacturer, or trade it in, and the initiative itself is expected to accelerate the adoption of EVs in India by reducing depreciation risks (source: carwale.com).
