Mumbai: In a move that might just make EV sceptics raise an eyebrow and buyers breathe a sigh of relief, JSW MG Motor India has launched an industry-first extended Assured Buy Back Program for its electric vehicles. Already known for throwing in customer-friendly innovations, MG has now become the first car brand in India to offer a guaranteed buyback period stretching from 3 years all the way up to 5 years—because if smartphones get trade-in guarantees, why shouldn’t your electric SUV?
The program promises 40% to 60% assured resale value based on tenure, and yes—this is independent of any loan or finance plan. Whether you finance it, lease it, or buy it with your lottery winnings, MG promises predictable value at the end of the term.
And for the first time in India, commercial MG ZS EV fleet owners are also part of the party—with eligible vehicles covered up to 3 years old or running up to 60,000 km per year. (Fleet owners everywhere just smiled quietly.)
The program has been accelerated exclusively by Lockton India Insurance, in partnership with Zuno General Insurance, MG’s collaborator for this digital-first EV future.
A Program Built for EV Confidence — Minus the Range Anxiety
MG already offers a 60% buyback after three years, but this new extended program takes things several steps further. Owners can now choose between 3-year, 4-year, or 5-year assured value plans. At the end of the tenure, customers can retain, return, or upgrade—basically, the same options you get with your smartphone, just at a more… automotive scale.
Calling it the MG Value Promise Program, the company aims to eliminate the biggest hesitation many buyers still have about EVs: resale value.
“Resale value has been a key consideration for customers considering EVs,”
said Anurag Mehrotra, Managing Director, JSW MG Motor India.
“With this industry-first assured buyback from 3 to 5 years, we want to give customers complete peace of mind and further boost trust in electric mobility.”
MG believes this program will help more buyers take the electric leap—without worrying if their EV will depreciate faster than a festival discount sale.
Zuno & Lockton: Making EV Ownership Less Stress, More Zuno-Zen
Zuno General Insurance, the digital-first insurer known for speaking in “human language” (a rare skill in the insurance world), is taking the lead as the program partner.
“Electric mobility is reshaping India, and we’re excited to support that shift,”
said Shanai Ghosh, MD & CEO, Zuno General Insurance.
Meanwhile, Dr. Sandeep Dadia, CEO & Country Head, Lockton India, highlighted how MG’s EVs already enjoy strong resale value—and this program brings greater predictability with a simple, transparent structure.
Lockton played a key role in designing the model, using its experience in the mobility sector to offer customers clarity and confidence—something EV owners will happily welcome along with charging stations.
A Boost for India’s EV Market
India’s EV landscape is growing rapidly, supported by improved infrastructure, better awareness, and increasing tech maturity. Programs like MG’s assured buyback help reduce adoption barriers, remove depreciation fear, and make upgrading to newer EVs easier than ever.
It also aligns perfectly with the broader push toward sustainable and future-ready mobility—a world where EVs gain the same confidence level as long-trusted petrol cars.
And frankly, who wouldn’t want a guarantee that their shiny electric SUV won’t lose value faster than their New Year fitness resolutions?
