India’s First Extended EV Buy Back Scheme MG Leads the Way

In a landmark move for India’s electric vehicle industry, MG Motor India has launched an extended Assured Buy Back Programme for its EVs, making it the first automaker in the country to guarantee resale values for up to five years. The initiative is designed to provide EV owners with financial predictability and enhanced confidence, addressing one of the key concerns for prospective buyers, vehicle depreciation.

The programme offers resale value assurances ranging from 40% to 60% of the vehicle’s original price, depending on the tenure selected. By doing so, MG aims to make EV ownership more secure and appealing for both private buyers and commercial operators, supporting the wider adoption of electric mobility across India.

MG Extended Assured Buy Back Programme

The extended buy-back scheme, branded as the MG Value Promise Program, allows EV owners to lock in guaranteed resale values for three, four, or five years. This initiative operates independently of any finance or loan scheme, ensuring that participation is flexible and accessible to all EV owners, regardless of how the vehicle was purchased.

Notably, the programme also extends to commercial EVs, particularly the MG ZS EV, covering vehicles up to 3 years old or with annual mileage up to 60,000 kilometers. This makes MG the first carmaker in India to introduce such a structured buy-back offering for commercial EV fleets.

Key Features of the MG Value Promise Program

The MG Value Promise Program provides several unique benefits to both private and commercial EV owners:

• Flexible Tenures: Choose guaranteed resale values for three, four, or five years.
• Resale Value Guarantee: Receive forty to sixty percent of the vehicle’s value at the end of the chosen period.
• Independent of Financing: The programme is applicable regardless of whether the EV is purchased outright or via a loan.
• End-of-Tenure Options: At the end of the tenure, owners can retain, return, or exchange their vehicle for a newer MG model.
• Commercial EV Coverage: MG ZS EVs registered for commercial use are eligible for buy-back guarantees under specific mileage and age conditions.

By reducing depreciation-related concerns and enhancing financial clarity, this programme helps EV owners plan their vehicle investment confidently.

Strategic Partnerships

The extended buy-back initiative is facilitated through a partnership with Lockton India Insurance Broking and Advisory Ltd and Zuno General Insurance. This collaboration ensures a transparent and robust model, safeguarding the interests of EV owners while guaranteeing resale values.

Through these strategic partnerships, MG ensures that the programme is legally and financially secure, offering a credible solution to one of the biggest challenges in EV adoption, uncertain resale value.

Benefits to EV Owners

The MG extended Assured Buy Back Programme provides multiple advantages for EV owners:

• Predictable Resale Value: Offers financial certainty with a guaranteed percentage of resale value at the end of the tenure.
• Flexible Ownership: Tenure options allow customers to select a period that aligns with their long-term plans.
• Reduced Depreciation Anxiety: Locks in value to protect against rapid depreciation, a common concern for EV buyers.
• Support for Commercial Operators: Fleet managers gain confidence in EV investments with assured resale benefits.
• Accelerated EV Adoption: Enhances the overall attractiveness of EVs, encouraging more consumers to transition to electric mobility.

How the Programme Works

1. Select Tenure: Choose a three, four, or five-year buy-back plan.
2. Guaranteed Resale Value: Receive between forty and sixty percent of the vehicle’s original value at the end of the selected period.
3. End-of-Tenure Options: Retain, return, or exchange the EV for a new MG model.
4. Commercial Coverage: Applicable for MG ZS EVs used commercially within age and mileage limits.

This streamlined process ensures transparency and simplicity, giving customers complete clarity throughout their vehicle ownership journey.

Extended assured buy back programme

Impact on the Indian EV Market

MG’s initiative addresses a critical barrier to EV adoption in India: uncertainty over depreciation and resale value. By offering guaranteed buy-back prices, MG provides customers with confidence in the long-term value of their vehicles.

The inclusion of commercial EVs is especially noteworthy. Fleet operators can now invest in MG ZS EVs knowing they have a predictable resale framework, which could accelerate the deployment of electric vehicles in urban transport and business fleets.

This programme also positions MG as an industry leader in customer-centric EV solutions, setting a benchmark for other automakers to follow.

Conclusion

The MG Extended Assured Buy Back Programme is a pioneering step in India’s EV market, providing customers with financial predictability, flexibility, and confidence in ownership. With guaranteed resale values, flexible tenure options, and coverage for commercial EVs, MG addresses one of the most significant challenges facing EV adoption: depreciation uncertainty.

This initiative demonstrates MG’s commitment to sustainable mobility, innovative ownership solutions, and customer-centric practices. By making EV ownership more secure, predictable, and attractive, the extended Assured Buyback Programme is poised to accelerate electric vehicle adoption across India, benefiting both private consumers and commercial operators alike.