India's First: MG Launches 5-Year Assured Buyback Scheme for EVs – CarLelo
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JSW MG Motor India has announced an industry-first initiative to make electric vehicle ownership simpler and more worry-free. The carmaker has extended its Assured Buy Back Program for EVs from 3 years to up to 5 years, becoming the first brand in India to do so.
Also Read: Tata to Launch 3 New SUVs, including Avinya and Sierra EV
Under this new program, MG EV customers can choose an assured buy-back option for 3, 4, or 5 years. Depending on the plan selected, customers are guaranteed a resale value ranging between 40% and 60% at the end of the tenure.
Earlier, MG offered a 60% assured buy-back value after 3 years. The updated program builds on this and gives buyers more flexibility and long-term confidence.
One of the key highlights of this initiative is that it operates independently of any loan or finance scheme. Customers can opt for the Assured Buy Back Program regardless of how they purchase their EV, making it a first-of-its-kind offering in the mass EV segment.
For the first time in India, MG has also extended buy-back benefits to its commercial EV customers. MG ZS EV fleet owners are eligible for assured resale value for vehicles up to 3 years old or with a mileage of up to 60,000 km per year.
At the end of the selected tenure, customers can choose to retain their vehicle, surrender it, or exchange it for a new MG model. This reduces depreciation worries and makes upgrading to a newer EV easier.
Speaking on the launch, Anurag Mehrotra, Managing Director, JSW MG Motor India, said the program is designed to address one of the biggest concerns around EV ownership – resale value. He added that the MG Value Promise Program aims to give customers peace of mind while encouraging faster adoption of electric mobility in India.
The Assured Buy Back Program is accelerated and facilitated exclusively by Lockton India Insurance Broking and Advisory Ltd, in partnership with Zuno General Insurance. Zuno, the insurance partner, focuses on digital-first and transparent solutions to support long-term EV ownership.
Lockton India highlighted that such initiatives help bring predictability and clarity to EV ownership, strengthening trust in India’s growing electric mobility ecosystem.
With better infrastructure, improving technology, and rising awareness, India’s EV market is set to grow steadily. Programs like MG’s extended Assured Buy Back are expected to play a key role by reducing adoption barriers and making EV ownership more secure, flexible, and future-ready.
Also Read: Mahindra XUV 7XO Teased Again – Feature-Loaded SUV Launching on January 5
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Konica Singh is a passionate Automotive Journalist who brings the world of cars to life, from EV trends to exciting new car launches. Backed by 7 years in content creation, she is skilled in writing, editing, and SEO strategy that drives engagement.
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