MG Motor India has expanded its innovative Battery-as-a-Service (BaaS) program to include the popular MG Comet and ZS EV SUV, following the success of this scheme with the MG Windsor. This unique financing model offers an alternative approach to EV ownership, enabling customers to purchase the vehicle without the battery and rent the battery based on their usage. This pay-per-kilometre system significantly reduces the initial cost of owning an electric vehicle while offering a flexible way to manage running expenses.
Pricing Breakdown for MG Comet and ZS EV Under BaaS
The MG Comet, under the BaaS program, is now priced from Rs 4.99 lakh (ex-showroom) with a battery rental fee of Rs 2.5 per kilometer. Similarly, the MG ZS EV starts at Rs 13.99 lakh with a rental fee of Rs 4.5 per kilometer for the battery. It's important to note that charging costs will be charged separately, in addition to the battery rental fee.
Comet BaaS program reduces the entry price by Rs 2 lakh
ZS EV BaaS program lowers the starting price by Rs 4.99 lakh, making it significantly more affordable.
How the BaaS Program Works
The BaaS program reduces the upfront acquisition cost of EVs while also lowering long-term running costs. Customers can still purchase the MG Comet and ZS EV with the battery included, but the BaaS model provides an alternative ownership solution for those seeking a more cost-effective option. For reference, the standard Comet is priced between Rs 6.99 lakh and Rs 9.53 lakh, while the ZS EV ranges from Rs 18.98 lakh to Rs 25.44 lakh (ex-showroom).
While MG Motor India has not yet announced variant-specific prices for the Comet and ZS EV without the battery, the reduction in entry prices (Rs 2 lakh for Comet and Rs 4.99 lakh for ZS EV) makes these EVs much more accessible to a wider audience.
Financing and Rental Details
The BaaS program for both the Comet and ZS EV is supported by four major financial institutions, namely Bajaj Finance Limited, Herofin Corp, VidyutTech Services, and Ecofy & Autovert Technologies. Each financing partner offers rental packages with different terms and rates, giving customers flexible options based on their driving patterns and usage.
This pay-as-you-drive system is expected to significantly boost EV adoption in India, as it directly addresses one of the biggest barriers to entry—the high upfront cost of electric vehicles. Furthermore, with a 60% buyback guarantee after three years, customers have a clear path for upgrading or returning their vehicle.
MG Motor's BaaS program is another step forward in promoting sustainable transportation in India, aligning with the government’s goal of reducing emissions and promoting clean energy solutions.
Also Read: