With the Comet Mini’s debut price of Rs 4.99 lakh, JSW MG Motor has made a daring move into the electric vehicle (EV) industry. Its battery-as-a-service (BaaS) program, which offers consumers the option to pay for battery consumption based on kilometers traveled, includes the cost decrease. BaaS isolates the battery from the car’s initial cost.
The business expanded the BaaS program to include the Comet Mini and the ZS EV. It is a joint venture between JSW Group and SAIC Motor in China. Starting prices for the Comet and ZS EV are been reduced by Rs 2 lakh and Rs 4.99 lakh, respectively. If this model is chosen, buyers will be required to pay a battery rental; the beginning fee for the
Comet and the ZS EV cost Rs 4.5 per kilometer. The consumer should also bear the expense of charging, which comes to about Rs 1 per kilometer.
It is still possible to buy the automobile with the batteries included in the buying price. The new price plan is made even more appealing by the promise to customers of a 60% repurchase value after three years of ownership.
With a starting price of Rs 9.99 lakh and a battery leasing of Rs 3.5 per kilometer, the Windsor EV was the vehicle that launched the BaaS program. But purchasers have to agree to pay at least Rs 5,250 each month for a battery that can cover 1,500 km. Comparable to a cellphone data plan, in which customers pay for any additional usage over the allotted amount,
in this instance, the 1,500 km cutoff. Hero Fincorp and Bajaj Finserv, two of JSW MG Motor’s banking partners, will oversee the additional payments.
The Chief Commercial Officer of JSW MG Motor India, Satinder Singh Bajwa, highlighted the model’s accessibility by saying, “We have made our EVs more accessible than ever by creating a platform for easy ownership with BaaS.” I do not doubt that the nation’s EV adoption will increase thanks to this special ownership arrangement.”
Even though the MG Comet costs less than Rs 5 lakh, it is not India’s first electric car to reach this significant milestone. It is the Reva, which debuted in 1994 for Rs 2.88 lakh. Chetan Maini’s Reva Electric Car Co. produced the Reva.
which Mahindra & Mahindra eventually purchased in 2010. In 2013, Mahindra introduced the e2O, which was later discontinued and cost between Rs 6.5 lakh and Rs 8.5 lakh.
The Comet is a four-person urban electric vehicle with two doors that has a 230-kilometer range on a single charge. However, the interior is small. In the meanwhile, the ZS EV, a 4.3-meter SUV with a 461-kilometer range on a single charge, is positioned to rival BYD’s Seal and Tata’s Curvv in the expanding Indian EV market.