MG Motor India Introduces Battery-as-a-Service Program
MG Motor India has launched a Battery-as-a-Service (BaaS) program, allowing customers to pay a nominal fee per kilometer for battery usage instead of purchasing the battery outright. This pay-as-you-go model aims to make electric vehicle (EV) ownership more accessible. Customers will also benefit from a guaranteed 60% buyback value after three years, enhancing the return on investment.
Affordable EVs with Enhanced Features
Satinder Singh Bajwa, Chief Commercial Officer at MG Motor India, emphasized that the BaaS program is designed to boost EV adoption by providing an easy ownership platform. The MG Comet EV offers a range of 230 km on a single charge, while the MG ZS EV boasts a 461 km range with its 50.3 kWh battery pack. Partnerships with financial institutions like Bajaj Finserv and Hero Fincorp help facilitate this program.
Competitive Pricing and Market Impact
The new battery rental option positions MG’s EVs competitively against internal combustion engine vehicles (ICEs). The MG ZS EV is now priced similarly to the MG Astor, while the Windsor EV starts at a competitive ₹10 lakh (ex-showroom).
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Summary at glance
Under the Battery-as-a-Service (BaaS) program, customers can use electric vehicle (EV) batteries by paying a nominal fee per kilometer, eliminating the need for upfront costs. This initiative guarantees a 60% buyback value after three years, enhancing investment returns. MG Motor India’s Chief Commercial Officer highlighted that this program makes EVs, including the affordable MG Comet and ZS models, more accessible, promoting greater adoption in India. The new battery rental option aligns prices between EVs and internal combustion engine vehicles.
Superfast News Coverage by DelhiBreakings.com team.
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