MG Motor India Extends Assured Buy Back Program to Accelerate EV Adoption: Details

The Indian division of the Chinese owned British legacy automaker MG Motor has revised its ‘Assured Buy Back Program’ for electric vehicles (EVs) in the country. The details shared by the company outlines that MG Motor India is extending the tenure of its buy back initiative from three years to up to five years. This program covers all EVs sold by the automaker and the updated program allows EV owners to select a buy-back period of three, four or five years, with a fixed resale value defined at the time of purchase.

According to MG Motor India the revised structure, the assured resale value ranges between 40 percent and 60 percent, depending on the selected tenure. The existing provision of a 60 percent buy-back value at the end of three years continues. The scheme is not linked to any loan or finance arrangement and is applicable regardless of whether the vehicle is purchased through cash or financing.

The program is available to private EV owners across MG’s electric portfolio. Commercial customers using the MG ZS EV have also been brought under the buy-back coverage for the first time, subject to a maximum ownership period of three years or an annual mileage limit of 60,000 km. At the end of the selected term, customers can choose to keep the vehicle, return it under the buy-back terms, or exchange it for another MG vehicle.

The extended buy back initiative from MG Motor India aims to provide a predefined resale option at the end of ownership, addressing concerns around EV depreciation and long-term value, particularly linked to battery costs. MG currently offers Comet, Windsor, ZS, Cyberster and M9 electric cars in the Indian market.

Anurag Mehrotra, Managing Director, JSW MG Motor India, said, “Resale value has been a key consideration for many customers who are considering buying an EV. We believe this initiative will play a key role in expanding India’s EV market by eliminating a major concern for buyers and building stronger trust in electric mobility.”