JSW MG Motor India has announced an industry-first initiative aimed at making electric vehicle ownership more predictable and stress-free, becoming the first car brand in the country to extend assured buyback for EVs from the existing three years to up to five years. The new Assured Buy Back programme guarantees a fixed resale value at the end of a chosen ownership period, addressing one of the biggest concerns for potential EV buyers—long-term value and depreciation.
Under the enhanced programme, MG EV customers can now opt for assured resale value after three, four or five years, depending on the plan selected. This builds on the company’s earlier promise of a 60% buyback value after three years and operates independently of any finance or loan scheme. In a first for the country, even existing MG ZS EV owners are eligible, provided their vehicles are up to three years old or have clocked mileage within the prescribed annual limit.
Speaking on the initiative, Mr. Anurag Mehrotra, Managing Director, JSW MG Motor India, said the programme reflects the brand’s continued focus on customer-centric innovation. He noted that resale value remains a key hesitation for many EV buyers, and the MG Value Promise programme offers peace of mind by allowing customers to choose a tenure between three and five years with assured resale value. He added that the initiative is expected to strengthen trust in electric mobility and support wider EV adoption in India.
The programme offers customers flexibility at the end of the tenure, with options to retain the vehicle, surrender it, or upgrade to a new MG model. By reducing uncertainty around depreciation, the initiative also makes it easier for customers to plan future upgrades while enjoying greater financial predictability during ownership.
The assured buyback programme is facilitated by Lockton India Insurance Broking and Advisory Ltd in partnership with Zuno General Insurance. Shanai Ghosh, MD and CEO of Zuno General Insurance, said the collaboration aligns with the insurer’s vision of building a future-ready, digital-first EV insurance portfolio that simplifies and secures long-term EV ownership.
Mr. Sandeep Dadia, CEO and Country Head, Lockton India, said that as EV adoption accelerates, customers are seeking greater clarity and confidence around ownership outcomes. He added that the extended assured buyback programme has been designed to deliver predictable value in a transparent manner, helping customers plan their EV journey with greater certainty.
With India’s EV ecosystem continuing to evolve, supported by improving infrastructure, advancing technology and rising consumer awareness, initiatives such as MG’s extended assured buyback are expected to play a key role in lowering adoption barriers and strengthening confidence in electric mobility across the country.
