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JSW MG Motor Launches Insurance-Backed EV Buyback With Guaranteed Values for Up to Five Years

An insurance-brokered guarantee aims to reduce depreciation anxiety to spur EV purchases.

Overview

  • Customers can choose 3-, 4-, or 5-year tenures with assured resale values ranging from 40% to 60%.
  • The program is not tied to financing and lets owners keep the car, return it for the guaranteed value, or upgrade at term end.
  • Coverage applies to MG’s Comet, Windsor, and ZS electric models, extending the company’s earlier three-year-only offer.
  • Commercial and fleet use is included for the ZS EV under limits of vehicles up to three years old and 60,000 km per year.
  • Lockton India and Zuno General Insurance facilitate the scheme, which MG says is designed to cut depreciation risk and build buyer confidence.