JSW MG Motor India has announced an extended assured buyback scheme for its electric vehicles (EVs) from the existing 3 years, to up to 5 years now, with an aim to make EV ownership more easier and seamless. With this move, MG becomes the first car brand in India to offer guaranteed resale value for EVs over such an extended ownership period.
Under the MG Value Promise Programme, MG EV customers can opt for an assured buyback after 3, 4, or 5 years, depending on the plan chosen. The guaranteed resale value ranges between 40% and 60%, helping customers mitigate depreciation-related concerns, which is one of the key barriers to EV adoption in India. Importantly, the assured buy-back programme is not linked to any finance or loan scheme.
MG has also extended this benefit to its commercial EV customers, making it the first brand in the country to offer assured resale value for electric vehicles used in fleet operations. Commercial MG ZS EV owners will be eligible for buy-back benefits for vehicles up to three years old or with an annual mileage cap of 60,000 km.
According to the company, resale value has remained one of the key concerns for prospective EV buyers. By offering fixed depreciation and flexible exit options, the programme aims to reduce ownership anxiety and make upgrading to a newer MG EV more convenient. At the end of the selected tenure, customers can choose to retain, return, or exchange their vehicle.
The Assured Buy Back Programme is facilitated exclusively by Lockton India Insurance Broking and Advisory Ltd and offered in partnership with Zuno General Insurance. The initiative is designed to bring greater financial predictability and transparency to EV ownership, while also supporting faster adoption of electric mobility in India.
With India’s EV market witnessing steady growth, supported by improving infrastructure and rising consumer awareness, MG believes that solutions like assured buy-back can play a crucial role in building trust and lowering entry barriers for new buyers. The company already offers customer-focused EV initiatives such as Battery-as-a-Service and lifetime warranty on EV batteries, and this latest move further strengthens its value proposition in the electric vehicle space.
