JSW MG Motor Pvt. Ltd. has made a groundbreaking move in the electric vehicle market by reducing the upfront acquisition cost of its cheapest electric car to under Rs 5 lakh. This reduction is achieved through an innovative battery-as-a-service (BaaS) program that unbundles the battery cost from the vehicle's price. The joint venture between India’s JSW Group and China’s SAIC Motor Co. has rolled out this program for its MG Comet and MG ZS EV models, making electric vehicle ownership more accessible to a wider audience.

With this new pricing structure, the MG Comet is now available for just Rs 4.99 lakh, while the MG ZS EV starts at Rs 13.99 lakh. Customers opting for the battery-as-a-service model will pay a usage-based battery rental fee in addition to the vehicle’s sticker price. For the MG Comet, the battery rental is set at Rs 2.5 per kilometer, while the MG ZS EV will incur a rental of Rs 4.5 per kilometer. The charging cost, estimated at about Rs 1 per kilometer, remains the responsibility of the user.

Customers also have the option to purchase the cars with the battery cost included in the sticker price. An attractive feature of this program is the assured 60% buyback value after three years of ownership, further incentivizing potential buyers to consider electric vehicles. This strategy not only makes electric cars more affordable but also encourages a shift toward sustainable transportation.