MG Motors has added the Comet and the ZS EV SUV to its BaaS (Battery-as-a-Service) program. The BaaS scheme lets buyers buy an EV without paying the cost of the battery. Instead, the battery is available on a rental basis, with a fixed cost charged for every kilometre the car runs. They follow the Windsor EV, which was the first car to introduce the scheme.
Comet BaaS
The MG Comet gets an updated price of Rs 4.99 lakh, along with a battery rental fee of Rs 2.5 per km. Unlike the Windsor EV, buyers can opt to pay the complete cost of the battery. In that scenario, the Comet is available at the same price starting at Rs 6.99 lakh as before, with the top model costing around Rs 9.53 lakh.
ZS EV BaaS
The MG ZS EV will be available with a price tag of Rs 13.99 Lakh and an additional Rs 4.5 per km battery rental fee. Like the Comet, you can decide not to take the BaaS plan and pay the full cost of the car and battery. The cost of buying the ZS EV is the same as before, i.e., between Rs 18.98 Lakh and Rs 25.43 lakh.
The Financiers
The same 4 companies are part of the BaaS program for the Comet and ZS EV as the Windsor EV. These are: Bajaj Finance Limited, Herofin Corp, VidyutTech Services Private Limited, and Ecofy & Autovert Technologies Private Limited. The details of the policies offered are not available yet.
The BaaS Program
The BaaS program frees users from the responsibility for the battery in their EV. That means they dont worry about the battery malfunction or degradation till the point they keep paying their per km rental fee. This means that, in a way, they get an unlimited km warranty on the battery. The cost of using the battery will depend on how much they use their EV and the plan chosen. For example, if you use your car for 2,000 km in a month, then you will be charged Rs 2.5 for the Comet, 3.5 for the Windsor EV and 4.5 for the ZS EV. This means you will spend Rs 5,000 for the Comet EV, Rs 7,000 for the Windsor EV and Rs 9,000 for the ZS EV.
If you want a detailed explanation of this scheme, you can check it in our article here.
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