MG Windsor EV BaaS Scheme
MG Windsor EV BaaS Scheme

Electric Cars since launch have been costlier. Now with the new scheme of MG motors, the company is offering cars at reduced upfront cost and initiated a pay-per-km scheme. This is a new way of purchasing a car where customers will be paying for the body, while the cost of the battery will be borne monthly. 

The new smart move by the brand has shocked and intrigued the audience. This is an all-new concept that was never heard of. Earlier the EV cars required huge upfront costs as compared to the petrol versions of the car, While now it has matched the cost and even with the BaaS (Battery as a Service) it is still cheaper to use electric cars. 

This is a bit confusing at first, but keep reading as we unfold all the aspects of the Battery as a Service (BaaS) model of MG motors. We will be sharing every detail about the battery plan, the benefits of taking this plan and what are the shortcomings. So without any further ado, let’s take a look. 

What is the new EV car-owning plan? 

MG Motors with its latest addition, MG Windsor has introduced a new scheme to ease EV owning. The new scheme requires an upfront cost for the car while the battery cost will be borne every month based on the kilometers travelled. 

The company has introduced this scheme in collaboration with 4 finance giants including Bajaj Finance, Hero Fincorp, Ecofy & Autovert and VidyutTech. Based on the choice of the customer and credit score, these financiers will offer their respective monthly BaaS plans. 

Now just like any other petrol or diesel car, owning an EV is no longer costlier. However, the customers will have to bear an additional driving cost similar to refuelling (petrol or diesel) upon car running. 

Monthly subscription plans for owning an MG EV car

Just like any other car, owning an EV is simplified with the new BaaS plan. Now based on the monthly kilometer drive of the owner, the finance companies offer a plan that includes a monthly kilometer limit, base price per kilometer, and additional cost per kilometer if the limit is exceeded. 

While the majority of the finance companies have the same plan, ecofy is offering a much higher priced plan which roughly costs 8700 rupees monthly, but it is offered to customers with low credit scores. While the other companies are offering a base plan for 5250 rupees for a minimum of 1500 kilometers per month. 

This plan will be charged every month while the kilometer will be tracked for a smooth and true experience for the customers. 

Here is what the different company plans look like: 

Bajaj Finance

Minimum Kilometers per Month- 1500

Per Kilometer Charges- 3.5 Rupees

Total Monthly Cost- 5250 Rupees

Hero Fincorp

Minimum Kilometers per Month- 1500

Per Kilometer Charges- 3.5 Rupees

Total Monthly Cost- 5250 Rupees

Ecofy and Autovert

Minimum Kilometers per Month- 1500

Per Kilometer Charges- 5.8 Rupees

Total Monthly Cost- 8700 Rupees

VidyutTech

Minimum Kilometers per Month- NIL

Per Kilometer Charges- 3.5 Rupees

Total Monthly Cost- Depends upon usage

*Hidden Battery charges which customers will have to bear as a whole (per year cost)

Benefits of the BaaS scheme

BaaS Scheme of MG Windsor EV

To make the scheme accessible and acceptable the brand has packed attractive benefits with the purchase. Unlike the usual purchase of EV cars, buying in the BaaS scheme the customers will have benefits. While being a tough competition to petrol and diesel cars. Here is what the scheme offers: 

  • Unlimited Warranty: The battery is not owned by the customers, which makes it viable for an unlimited warranty against the battery. The customers will only have to pay the monthly rental based on their kilometers drive, rest assured by the finance companies be it maintenance, replacement or any other damage. 
  • 1 year free charging: MG Motors also offers a 1-year free charging which helps customers reduce the cost of owning MG EV cars. However, there are terms and conditions applied to this scheme. 
  • Reduced upfront cost of the car: Unlike other EV cars in the market. Purchasing MG EV cars would be cheaper and compared to petrol cars would be similar. The cost only includes the body cost. This is a great move by the brand as the extra upfront cost was a major roadblock for the customers.  
  • 60% buyback on Shield Pack: Under the MG Shield pack, the company also offers a 60% value buyback of all cars within 3 years of purchase. However, there are a few things which customers will have to follow to avail this offer. 

Apart from these, there are other benefits to the scheme as well which include reduced downtime, predictable running cost and fast charging. 

Problems with the BaaS Scheme

With the benefits, there are some downsides to this plan as well. Though, these are not the deal breakers, but are worth spending some time on. As these minor changes can lead to bigger costs each month. 

  • Fixed Minimum Monthly Cost: In addition to the cost of the car, the customers will have to pay a fixed amount monthly till they have the car. This cost will be borne irrespective if they drive the car or not. 
  • Additional Charging Charges: Even after paying the monthly charges, there is an additional cost that the customers have to bear, i.e., the charging cost. Irrespective of where they charge the vehicle, the cost will have to be borne by the customers/ owner of the car. 
  • Additional Charges on Extra Drive: After completing the minimum drive limit, the customers will be charged additionally. These could turn out to be headaches for the customers as the cost will increase. 

By Tanmay Sharma

I am a writer, Traveller, photographer and naturalist. Join the journey to explore the unexplored on your vehicle.