EV Buyback Programme Offers 60% Assured Value After 3 Years, Independent of Loan or Finance Schemes
New Delhi: JSW MG Motor India has expanded its electric vehicle ownership assurance by extending its assured buyback programme to five years, offering greater financial security and predictability for EV customers. The move marks an industry-first initiative aimed at addressing one of the key concerns among electric vehicle buyers—resale value.
Under the programme, MG EV owners can opt for a guaranteed resale value after three, four, or five years, depending on the plan selected. This builds on the company’s earlier commitment that assured customers of up to 60 percent buyback value after three years. Importantly, the initiative is independent of any loan or finance scheme, giving customers flexibility regardless of how they purchase their vehicle.
Coverage for Private and Commercial Users
The assured buyback benefit is also available to commercial users of the MG ZS EV. Eligible vehicles can avail resale assurance for up to three years, provided annual mileage does not exceed 60,000 kilometres, broadening the programme’s appeal beyond personal mobility.
Branded as the MG Value Promise, the initiative is facilitated by Lockton India Insurance Broking and Advisory Ltd, in partnership with Zuno General Insurance. Customers will have the option to retain, return, or exchange their vehicle at the end of the chosen tenure, helping reduce depreciation risk and enabling smoother upgrades to newer EV models.
Boosting Confidence in EV Ownership
Anurag Mehrotra, Managing Director, JSW MG Motor India, said resale value remains a decisive factor for EV buyers. The extended buyback assurance is designed to offer greater peace of mind across a longer ownership cycle.
The company stated that the programme aims to lower adoption barriers, particularly as EV penetration moves beyond early adopters. Industry partners echoed this view, highlighting how structured buyback models can enhance trust, transparency, and confidence in India’s evolving EV ecosystem.
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Comment by Author:
The extension of JSW MG Motor India’s assured buyback programme to five years is a strategic step toward addressing one of the most persistent concerns in EV adoption—resale uncertainty. By decoupling resale assurance from financing and widening coverage to both private and select commercial users, the initiative strengthens consumer confidence and improves ownership predictability. Such structured buyback models can play a critical role in reducing perceived risk, accelerating mainstream EV adoption, and building long-term trust in India’s rapidly evolving electric mobility ecosystem.
