●
First car-brand in India to offer assured
buy-back from 3 to up to 5 years now
●
MG EV customers can get a guaranteed resale
value of 40-60% at the end of the specified periods
●
Unique, first-in-segment program that also
covers the MG EV commercial fleet
●
Accelerated and facilitated exclusively by
Lockton India Insurance, the program is offered in partnership with Zuno
General Insurance
Gurugram,
December 29, 2025: 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.
T&C
Apply*