MG Motor India has just introduced the Battery-as-a-Service (BaaS) program for the Comet and the ZS EV SUV. This financing scheme debuted with the recently launched MG Windsor, allowing customers to purchase the car without the battery and rent the battery to pay as per usage.
- Comet BaaS program brings down entry price by Rs 2 lakh
- ZS EV BaaS program reduces entry price by Rs 4.99 lakh, making it more affordable
MG says the BaaS program essentially brings down the upfront acquisition cost of an EV while also reducing running costs over an extended period. Do note that both the Comet and the ZS EV are still available for purchase as a whole as before, and this is just an added ownership model. For reference, the Comet is priced between Rs 6.99 lakh and Rs 9.53 lakh, while the ZS EV is priced between Rs 18.98 lakh and Rs 25.44 lakh.
Given the novelty of this ownership model, there has been a lot of confusion over the total cost of ownership over a certain period of time, the process of payment, the cost of charging, and more. We have done a detailed explainer on the BaaS program with regard to the Windsor. Since all factors remain similar for the Comet and ZS EV, you can refer to this article for more details on the BaaS program.
The BaaS program for the ZS EV and Comet will be financed by the same four companies supporting the Windsor: Bajaj Finance Limited, Herofin Corp, VidyutTech Services Private Limited, and Ecofy & Autovert Technologies Private Limited. These financiers will offer their own rental package, with their own rates and terms of conditions.
All prices are ex-showroom, India
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