Concerns about resale value remain one of the biggest challenges slowing electric vehicle (EV) adoption in India. Many buyers worry about how much their EV will be worth after a few years, especially because battery performance and replacement costs are still uncertain. To address this issue, JSW MG Motor India has launched an extended buyback programme that promises a fixed resale value for EVs for up to five years.
The company says this is an industry-first move in the mass EV segment. While most carmakers offer assured buyback plans for up to three years, JSW MG’s new programme extends this assurance to five years. Under the scheme, customers are guaranteed 40 to 60 percent of the vehicle’s value, depending on the tenure chosen.
Lakshmi Subbaraj, Director of Sales at JSW MG Motor India, said the decision was based on market feedback. According to her, resale value is a major concern for customers thinking of buying an EV. The extended buyback programme is expected to boost customer confidence and encourage more people to switch to electric vehicles.
The scheme is called MG Value Promise and is part of the company’s “EV Sahi Hai” awareness campaign. It is supported by Lockton India Insurance Broking and Advisory Ltd in partnership with Zuno General Insurance. Buyers can choose a buyback tenure ranging from three to five years. Importantly, the programme is not linked to any loan or financing plan, making it more flexible for customers.
India’s EV market is growing fast, but challenges remain. Battery electric vehicles currently account for about 4.6 percent of total passenger vehicle sales. Between January and November, over 1.6 lakh electric passenger vehicles were registered, marking a strong year-on-year growth of 78 percent. JSW MG is a key player in this space, offering models like the Windsor, ZS, Comet, M9, and Cyberster. It is currently the second-largest EV seller in India after Tata Motors, with around 30 percent market share.
Subbaraj pointed out that limited charging infrastructure and unclear resale value still stop many buyers from entering the EV market. However, she noted that charging facilities are improving quickly across the country. She believes that assured buyback plans will give customers greater certainty about future value, helping EV adoption grow faster.
The programme also aims to support the development of an organised second-hand EV market. Since batteries make up nearly 40 percent of an EV’s cost, buyers worry about battery life and degradation. With more assured buybacks, OEMs like JSW MG can help build trust and create a more structured resale ecosystem for electric vehicles in India.
