JSW MG Motor India announces an industry-first extended Assured Buy Back Program for its EVs

VMPL
Gurugram (Haryana) [India], December 29: JSW MG Motor India today announces the launch of an industry-first initiative aimed at making EV ownership easier and seamless for its customers. JSW MG Motor has become the country's first car-brand to offer an Assured Buy Back for EVs from the existing 3 years, to up to 5 years now. The program bolsters the confidence of EV users by guaranteeing a fixed resale value at the end of specified periods*.
With this new, unique program, MG EV owners can receive a guaranteed resale value after 3, 4, or 5 years, depending on the plan they select.* The program builds on MG Motor's existing offering, which guarantees 60% buy-back value after 3 years of ownership. It operates independently of any loan or finance scheme. First Time in country Commercial MG ZS EV owners are also eligible for resale value benefits for vehicles up to 3 years old or with a mileage of up to INR 60,000 per annum.
Speaking about this innovative buyback program, Anurag Mehrotra, Managing Director, JSW MG Motor India, said, "As a customer-centric brand, MG has always introduced initiatives like B-a-a-S (Battery-as-a-service), lifetime warranty on EV batteries that make EV ownership a delightful mobility experience. Resale value has been a key consideration for many customers who are considering buying an EV. With our industry-first MG Value Promise Program (Assured Buyback), facilitated by Lockton India Insurance Broking and Advisory Ltd in partnership with Zuno General Insurance, we want to give MG EV owners complete peace of mind as we now offer a Assured resale value where a customer has option to choose the tenure from 3 to 5 years. 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."

The program brings several key advantages for customers. It is India's first-of-its-kind program in the mass EV segment and is not tied to any finance or loan program. The program helps reduce depreciation risk and makes upgrading to a newer MG model much easier, allowing them to decide whether they choose to retain, return, or upgrade to a new MG vehicle. Customers will have the option to retain, surrender, or exchange their vehicle at the end of the selected tenure. By reducing depreciation concerns, the program is designed to boost buyer trust and accelerate EV adoption across India. It also offers greater financial predictability, convenience, and long-term peace of mind.
Shanai Ghosh, MD & CEO, Zuno General Insurance, said, "As a digital insurer, this partnership strengthens our vision of building a strong, future-ready EV insurance portfolio. Electric mobility is reshaping how India moves, and we're excited to support that shift with solutions that stay true to Zuno's promise of easy, friendly, and transparent. Our collaboration with JSW MG Motor India reinforces our commitment to making EV ownership simpler and more secure for customers." Zuno General Insurance, the program's insurance partner, is a new age insurer committed to creating digital-first protection that simplifies long-term EV ownership.
Commenting on the partnership, Dr. Sandeep Dadia, CEO & Country Head, Lockton India, said, "As EV adoption accelerates, customers increasingly seek clarity and confidence around long-term ownership. MG EVs are known for its true-to-range offerings with highest resale value and through our participation in MG's extended Assured Buy Back Program, we've focused on shaping a solution that provides predictable value in a simple and transparent way. Initiatives like this empower customers to plan their EV journey with greater certainty and strengthen overall trust in India's rapidly evolving electric mobility ecosystem.
With India's EV landscape set for steady expansion supported by evolving infrastructure, ongoing technological improvements, and increasing consumer awareness, programs like this mark an important step forward. Offering greater assurance and flexibility, such buy-back solutions can play a meaningful role in strengthening trust, reducing adoption barriers, and supporting the broader transition toward a more sustainable and future-ready mobility ecosystem."
The Assured Buy Back Program has been accelerated and facilitated exclusively by Lockton India Insurance Broking and Advisory Ltd. Leveraging its deep expertise in the mobility sector and strong understanding of today's evolving customer expectations, Lockton India has played a pivotal role in shaping a transparent and predictable model that builds trust and clarity around long-term EV ownership.
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