“With our industry-first MG Value Promise Program (Assured Buyback), facilitated by Lockton India Insurance Broking and Advisory in partnership with Zuno General Insurance, we now offer an assured resale value where a customer has option to choose the tenure from 3 to 5 years” Anurag Mehrotra, managing director, JSW MG Motor India
Gurugram: 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 three years, to up to five years now. The program bolsters the confidence of EV users by guaranteeing a fixed resale value at the end of specified periods.
The Assured Buy Back Program has been accelerated and facilitated exclusively by Lockton India Insurance Broking and Advisory Ltd. Zuno General Insurance is the program’s insurance partner.
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 Rs 60,000 per annum.
Speaking about this innovative buyback program, Anurag Mehrotra, managing director, JSW MG Motor India, said, “With our industry-first MG Value Promise Program (Assured Buyback), facilitated by Lockton India Insurance Broking and Advisory in partnership with Zuno General Insurance, we want to give MG EV owners complete peace of mind as we now offer an 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.”
Commenting on the partnership, 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.”
Shanai Ghosh, MD & CEO, Zuno General Insurance, said, “Our collaboration with JSW MG Motor India reinforces our commitment to making EV ownership simpler and more secure for customers.”