Key Points
New Delhi: JSW-MG Motor India is looking to win over hesitant electric vehicle (EV) buyers with a financing plan that tackles concerns about battery life, resale value, and pricingissues that are deterring potential buyers from making the shift from internal combustion engine (ICE) vehicles...
MG has rolled out a battery-as-a-service (BaaS) model for its Windsor EV, which was launched on Wednesday as the first product from the JSW-MG joint venture since it was formalized in March...
This allows customers to pay only for the car's shell upfront while opting to pay for the batteryessentially the heart of an EVon a per-km basis ( 3.5 per km according to one of the battery rental schemes MG has announced)...
While this isn't entirely new in IndiaMahindras Reva introduced a similar battery leasing option back in 2010the Windsor is the only passenger vehicle to be offered with this solution at present.. MG Motor is also evaluating the potential for adopting the BaaS model across its other EVs...
The Windsor EV will come with a lifetime warranty on the battery for customers and a 60% assured buyback value after three years for those who buy a three-year maintenance plan with the car, a first for any passenger EV on the market at present.. MG Motor said it saw its EV sales grow 52% in the first seven months of the year..
