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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.
The Comet has been priced at Rs 4.99 lakh, with a battery rental fee of Rs 2.5 per km, while the ZS EV will now be sold at Rs 13.99 lakh + Rs 4.5 per km for the battery. Do note that charging prices will be over and above the battery rental cost.
MG says the BaaS program essentially brings down the upfront acquisition cost of an EV, while also reducing running costs over an extended period of time. Do note that both the Comet and ZS EV are still available to buy 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.
With BaaS, the Comet’s entry price is more affordable by Rs 2 lakh, while the entry-level ZS EV is more affordable by Rs 4.99 lakh. MG, however, hasn’t announced the detailed variant-wise prices of either cars without the battery. We are also awaiting a full price list of the MG Windsor, with or without the battery.
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, and with the all factors remaining similar for the Comet and ZS EV, you can refer to this article here for more details on the BaaS program.
The BaaS program for the ZS EV and Comet will be financed by the same four financiers who are financing the Windsor, namely Bajaj Finance Limited, Herofin Corp, VidyutTech Services Private Limited, and Ecofy and Autovert Technologies Private Limited. Each of these financiers will have their own rental package with their own specific rates and terms of conditions.
All prices are ex-showroom, India
Autocar