JSW MG Motor India Extends Assured Buyback Program to 5 Years for EV Customers
JSW MG Motor India has taken a significant step toward strengthening electric vehicle adoption in the country by extending its Assured Buyback Program for EVs from the earlier 3-year period to up to 5 years, making it the first car brand in India to introduce such a long-tenure guaranteed resale value scheme for electric vehicles. Announced from Gurugram on December 29, 2025, the initiative aims to remove one of the biggest concerns among EV buyers: long-term resale value and depreciation.
With this extension, MG Motor is reinforcing its customer-centric approach and further building confidence in electric mobility. The enhanced program ensures that customers have clarity, predictability, and flexibility at the end of their EV ownership period, whether they choose to retain, return, or upgrade their vehicle.
Quick Highlights:
- Industry-first Assured Buyback Program extended from 3 to up to 5 years for EVs
- Guaranteed resale value ranging between 40–60 percent depending on tenure
- Covers both private and commercial MG EV customers
- Facilitated by Lockton India Insurance in partnership with Zuno General Insurance
What Is MG’s Assured Buyback Program
The Assured Buyback Program is designed to guarantee a fixed resale value for MG EV owners at the end of a selected tenure. Earlier limited to a 3-year horizon, the program now allows customers to opt for 3, 4, or 5 years, depending on their ownership preference and future plans.
Under this program, MG EV customers can receive a guaranteed resale value of 40 to 60 percent, depending on the chosen tenure and applicable conditions. Importantly, the program operates independently of any loan or finance scheme, giving customers complete flexibility in how they purchase their vehicle.
This initiative builds upon MG’s existing promise of a 60 percent assured buyback value after 3 years, expanding it into a longer-term ownership assurance model that directly addresses EV depreciation concerns.
First-of-Its-Kind Program in the Indian EV Market
JSW MG Motor India has become the first car brand in the country to offer an assured buyback program for EVs extending up to five years. While buyback schemes are not new in the automotive industry, MG’s approach stands out for several reasons:
- It is exclusive to electric vehicles, a segment where resale uncertainty has traditionally been higher
- It offers longer tenure flexibility, unmatched by any other mass-market EV brand in India
- It includes commercial EV customers, a segment often overlooked in resale assurance programs
By addressing these gaps, MG is setting a new benchmark for trust and transparency in EV ownership.
Inclusion of Commercial MG EV Fleet
In another industry-first move, the Assured Buyback Program also extends benefits to commercial MG ZS EV owners. Commercial customers can avail assured resale value for vehicles up to 3 years old or with mileage of up to 60,000 km per annum, making it a unique offering in the Indian EV ecosystem.
This inclusion is particularly significant for fleet operators, who prioritize predictability in asset value and total cost of ownership. By reducing uncertainty around resale, MG is enabling commercial users to adopt EVs with greater confidence.
Leadership Perspective on the Initiative
Commenting on the announcement, Anurag Mehrotra, Managing Director, JSW MG Motor India, emphasized the brand’s focus on long-term customer value. He highlighted that resale value remains a key consideration for EV buyers and that the extended Assured Buyback Program directly addresses this concern.
He noted that MG has consistently introduced customer-focused initiatives such as Battery-as-a-Service (BaaS) and lifetime warranty on EV batteries, all aimed at making EV ownership a delightful and worry-free experience. With the MG Value Promise Program, customers can now choose a tenure from 3 to 5 years and enjoy complete peace of mind through assured resale value, facilitated by Lockton India Insurance in partnership with Zuno General Insurance.
According to Mehrotra, this initiative is expected to play a crucial role in expanding India’s EV market by eliminating one of the most significant barriers to adoption and strengthening trust in electric mobility.
Role of Lockton India and Zuno General Insurance
The Assured Buyback Program has been accelerated and facilitated exclusively by Lockton India Insurance Broking and Advisory Ltd, leveraging its deep expertise in the mobility and insurance sectors. Lockton has played a pivotal role in shaping a transparent and predictable model that aligns with evolving customer expectations.
Zuno General Insurance, the program’s insurance partner, brings a digital-first approach to EV protection. Shanai Ghosh, MD & CEO, Zuno General Insurance, stated that the partnership aligns with Zuno’s vision of building a future-ready EV insurance portfolio. She emphasized that as electric mobility reshapes transportation in India, insurance-backed solutions like this one are essential to making EV ownership simpler, more secure, and more transparent.
Benefits of the Assured Buyback Program for Customers
The extended Assured Buyback Program offers several tangible advantages for MG EV customers:
- Reduced depreciation risk: Customers are protected against unpredictable resale values, a common concern in the EV segment.
- Greater financial predictability: Knowing the assured resale value helps customers plan their finances better.
- Flexibility at end of tenure: Owners can choose to retain, surrender, or exchange their vehicle for a newer MG model.
- Not linked to financing: The program is independent of loan or finance arrangements, offering complete freedom of choice.
By addressing both emotional and financial barriers, the program is expected to accelerate EV adoption across diverse customer segments.
Strengthening India’s EV Ecosystem
India’s electric vehicle market is poised for steady growth, driven by improving charging infrastructure, policy support, and increasing consumer awareness. However, concerns around long-term ownership costs and resale value have continued to slow adoption.
Programs like MG’s extended Assured Buyback initiative represent an important step toward reducing adoption barriers. By offering greater assurance and flexibility, such solutions help build long-term trust and encourage more consumers to transition toward electric mobility.
Industry experts believe that predictable ownership models will be critical in shaping India’s EV future, especially as more first-time EV buyers enter the market.
MG’s Current EV Portfolio in India
JSW MG Motor India currently offers three electric vehicles in its Indian lineup, catering to a wide range of budgets and use cases.
- The MG Windsor EV is priced between ₹13.99 lakh and ₹18.39 lakh (ex-showroom). Under the Battery-as-a-Service model, prices start at ₹9.99 lakh, with battery usage charged at ₹3.9 per km.
- The MG Comet EV, positioned as an urban mobility solution, is priced from ₹7.49 lakh to ₹9.99 lakh (ex-showroom). Its BaaS option starts at ₹4.99 lakh, with a battery rental of ₹3.1 per km.
- The MG ZS EV, MG’s premium electric SUV, is priced between ₹17.99 lakh and ₹20.49 lakh (ex-showroom). Its BaaS variant starts at around ₹13 lakh, with battery rental priced at ₹4.5 per km.
The Assured Buyback Program further enhances the value proposition of these models by offering long-term ownership confidence.
A Strategic Move Toward Sustainable Mobility
By extending the Assured Buyback Program to five years, JSW MG Motor India has once again demonstrated its commitment to innovation and customer satisfaction. The initiative not only strengthens MG’s position in the Indian EV market but also sets a new standard for how automakers can support customers beyond the point of purchase.
As India moves toward a more sustainable and future-ready mobility ecosystem, such customer-first initiatives are likely to play a decisive role in shaping consumer trust and accelerating the transition to electric vehicles.
Frequently Asked Questions (FAQs)
Q. What is MG’s Assured Buyback Program?
- It is a program that guarantees a fixed resale value for MG EVs at the end of a selected tenure of 3, 4, or 5 years.
Q. How long is the buyback tenure now available?
- MG has extended the tenure from 3 years to up to 5 years, an industry-first offering in India.
Q. What resale value does the program guarantee?
- Depending on the selected tenure, customers can receive a guaranteed resale value of 40–60 percent.
Q. Is the program linked to any loan or finance scheme?
- No, the Assured Buyback Program operates independently of any loan or finance arrangement.
Q. Does the program cover commercial EV customers?
- Yes, commercial MG ZS EV owners are eligible for assured resale value for vehicles up to 3 years old or 60,000 km per annum.
Q. Who facilitates the Assured Buyback Program?
- The program is facilitated exclusively by Lockton India Insurance Broking and Advisory Ltd, in partnership with Zuno General Insurance.
Q. Which MG EV models are eligible for the program?
- The program applies to MG’s electric vehicle lineup in India, including the MG Windsor EV, MG Comet EV, and MG ZS EV, subject to terms and conditions.
Q. Why is this program important for EV buyers?
- It reduces depreciation risk, improves financial predictability, and builds long-term confidence in EV ownership, encouraging wider adoption of electric vehicles in India.
