JSW MG Motor India has announced the launch of an industry-first Assured Buy Back Program for electric vehicles (EVs), extending the assured resale period from the existing three years to up to five years. With this move, the company becomes the first car manufacturer in India to offer a guaranteed buy-back value for EVs for a tenure of up to five years, marking a significant step toward making EV ownership more seamless and worry-free for customers.
Under the new MG Value Promise Program (Assured Buyback), MG EV owners can opt for a guaranteed resale value after 3, 4, or 5 years, depending on the plan selected. The program builds on MG Motor’s earlier assurance of a 60 per cent buy-back value after three years of ownership. Importantly, the scheme operates independently of any finance or loan program, offering customers greater flexibility and transparency.
In a first-of-its-kind move in the Indian EV market, even existing commercial MG ZS EV owners are eligible for resale value benefits, provided their vehicles are up to three years old or have covered mileage of up to 60,000 km per annum.
Speaking on the launch, Anurag Mehrotra, Managing Director, JSW MG Motor India, said resale value has been a key concern for many customers considering EVs. He noted that MG has consistently introduced customer-centric initiatives such as Battery-as-a-Service (BaaS) and a lifetime warranty on EV batteries. “With our industry-first Assured Buy Back program, we are offering customers complete peace of mind by allowing them to choose a tenure between three and five years for assured resale value. We believe this initiative will significantly help expand India’s EV market by eliminating a major adoption barrier,” he said.
The program offers multiple advantages, including reduced depreciation risk, improved financial predictability, and easier upgrades to newer MG models. At the end of the chosen tenure, customers can decide whether to retain, surrender, or exchange their vehicle. By addressing long-term ownership concerns, the initiative aims to accelerate EV adoption across the country.
The Assured Buy Back Program is facilitated by Lockton India Insurance Broking and Advisory Ltd in partnership with Zuno General Insurance. Shanai Ghosh, MD & CEO of Zuno General Insurance, said the collaboration aligns with the insurer’s vision of building a future-ready EV insurance portfolio. “Electric mobility is transforming how India moves, and we are excited to support this shift with simple, transparent, and digital-first protection solutions,” she said.
Dr. Sandeep Dadia, CEO & Country Head, Lockton India, said that as EV adoption grows, customers seek clarity and confidence in long-term ownership. He added that the program provides predictable value and strengthens trust in India’s rapidly evolving electric mobility ecosystem.
With India’s EV landscape poised for steady growth, initiatives like MG’s Assured Buy Back Program are expected to play a crucial role in reducing adoption barriers and supporting the transition to sustainable, future-ready mobility.