Battery As A Service Scheme Likely To Be Offered On Other MG EVs

JSW MG Motor India, yesterday, launched a very innovative ‘Battery as a service’ option for EV buyers in the country. What it has managed to do is separate the cost of the car and the battery and present to the consumers an option of buying an EV at an affordable rate. There is a likelihood of this scheme being introduced on other MG EVs currently in the company’s portfolio. Rajeev Chaba, CEO Emeritus, JSW MG Motor India, in an interview with Acko Drive said, “I think we are open to the idea of extending this to other cars in future likely to happen logic says.”

But it has not been an easy task to execute. Chaba added, “We have been working for the last 3 to 4 months to tie the loose ends in the back end.” Given what a new buying experience it was going to be, JSW MG Motor India could not convince traditional finance companies to help them execute this. Chaba said, “When we are starting this you know the traditional finance companies still have not probably brought into this idea but they are getting through this you know and they are probably going to have this we have tied up with certain NBFCs to start with and we are following it up with the bigger companies to accept this idea.”

The Windsor EV is the first car from the JSW MG stable to be offered with this option. The working is simple, the consumer will pay ₹ 9.99 lakh (price of the car) and then additionally shell out ₹ 3.5/km per month. In short, if you drive the car for 1000 km in a month, then you pay ₹ 3500 in addition to the EMI on the car (if the loan is taken).

Chaba hopes that even other carmakers take inspiration from JSW MG Motor India, “I feel that other car manufacturers also will join the bandwagon and my favourite line ‘Mutual funds Sahi’ here you know if other players also join it can become ‘EV Sahi hai’.