Key Highlights:
- MG Comet is priced under Rs 5 lakh with a BaaS concept.
- Battery leasing starts at Rs 2.5 per kilometer for Comet.
- Customers can choose battery leasing or full purchase options.
- 60% repurchase guarantee offered after 3 years.
MG Motor has introduced the Comet Mini electric car at an attractive price of Rs 4.99 lakh, thanks to the company’s innovative Battery-as-a-Service (BaaS) concept. This unique approach separates the battery cost from the car’s price, allowing consumers to pay for battery usage based on kilometers driven.
BaaS Lowers Prices for Comet Mini and ZS EV
The BaaS program has expanded to the Comet Mini and the ZS EV. The update lowers the starting price of the Comet by Rs 2 lakh and the ZS EV by Rs 4.99 lakh. Buyers pay a battery leasing fee, starting at Rs 2.5 per kilometer for the Comet and Rs 4.5 per kilometer for the ZS EV. Additionally, users will bear the charging cost of approximately Rs 1 per kilometer.
Ownership Flexibility and 60% Repurchase Guarantee
The BaaS program allows customers to lease the battery or purchase the vehicle with the battery included. Buyers are also offered a 60% repurchase guarantee after three years of ownership, adding more value to the new pricing model.
Windsor EV and BaaS Comparison
The MG Comet follows in the footsteps of the Windsor EV, the first vehicle introduced under the BaaS program, priced at Rs 9.99 lakh. The Windsor EV’s battery rental is Rs 3.5 per kilometer, but it also requires a monthly battery charge commitment of Rs 5,250, equivalent to 1,500 kilometers. Additional usage beyond this limit incurs further costs, handled by banking partners such as Bajaj Finserv and Hero Fincorp.
MG Motor’s Vision for Easy EV Ownership
Satinder Singh Bajwa, Chief Commercial Officer of JSW MG Motor India, emphasized that the BaaS concept simplifies EV ownership. He believes this will make electric vehicles more accessible and increase EV adoption across India.
Also Read: Maas: Platform for EV Fleet Operators With Greener Tomorrow
Not the First Affordable Electric Car in India
While the MG Comet now costs less than Rs 5 lakh, it is not the first electric vehicle in India to reach this price point. That distinction belongs to the Reva, launched in 1994 at Rs 2.88 lakh, designed by Chetan Maini’s Reva Electric Car Co. Mahindra & Mahindra later acquired the company and introduced the e2O in 2013, priced between Rs 6.5 lakh and Rs 8.5 lakh, although it has since been discontinued.
ELCTRIK Speaks
MG Motor’s BaaS model significantly reduces the cost of electric vehicle ownership by allowing buyers to lease the battery. This flexibility, along with a lower upfront cost and a repurchase guarantee, will make electric vehicles more affordable and appealing to a larger audience in India. With the MG Comet and ZS EV now available under this model, the company aims to drive EV adoption and reshape the electric car market in the country.
