BaaS Expansion: What made you to expand the Battery-as-a-Service (BaaS) model to Comet EV and ZS EV?
Battery-as-a-Service (BaaS) is a unique ownership model, which enables customers to just pay for the car and the spend on the battery as per usage, just like refuelling a conventional car. It is a flexible approach that helps customers in eliminating the outright purchase of the battery, resulting in the reduction in the initial purchase price. Introduced along with the launch of the Windsor, BaaS ownership program received encouraging response from customers, industry, and enthusiasts. In order to extend these benefits of the BaaS program and to make the transition to EVs more seamless, we made a thoughtful decision of making the BaaS program available across our EV portfolio.
Pricing Strategy: How does MG determine the battery rental costs under the BaaS program? Are battery capacity and usage patterns considered?
JSW MG Motor India conceptualised this BaaS in order to address one of the main deterrents to EV adoption, ie, the incremental upfront cost of owning an EV. For making BaaS a reality from a concept form, we partnered with several financiers who aligned with our idea and were ready to invest a non-traditional format. To make it a success, we worked along with our partners to create a scenario wherein our customers use the battery as fuel and pay for its usage, month-on-month.
This unique ownership program is flexible and can be customized as per the usage pattern of customers. Hence, the financiers curate plans as per the customers’ requirement and deliver the most suitable option. Some plans have a pre-determined kilometres attached to it, some may ask customers to keep some amount as a security deposit and use the car with no fixed kilometres attached to it.
Customer Benefits: What are the main advantages of the BaaS program compared to traditional EV ownership?
In a country like India, where a majority of car buyers route their purchases through EMIs to maximize savings, a program like BaaS acts as a catalyst to upgrade to an EV lifestyle seamlessly. It addresses the key deterrent to EV ownership, which is the additional upfront cost that customers were bound to pay through the traditional route.
BaaS enables customers to pay for the battery usage through a month-on-month repayment model, instead of an outright purchase of the battery along with the car. This results in enhancement of monthly savings, maximizing consumer delight of being a part of the MG brand.
Future Plans: What are MG’s plans to promote and expand EV adoption in India? Any upcoming initiatives or partnerships?
At JSW MG Motor India, we remain committed to the Indian car market and intend to continuously introduce mobility innovations at par with global trends. We remain aligned with the Government’s vision of minimizing carbon footprints and work towards creating a sustainable future for all. Hence, we are keenly focussed on developing our NEV portfolio, wherein we will continue to introduce various disruptions in the EV, Hybrids and PHEV space. Along with products, we are forging strong partnerships to develop a robust charging network and infrastructure to address the range anxiety among consumers. We recently introduced the eHub by MG app that is a one stop solution for EV charging solutions and can be used by any EV user.
We will continue the momentum of innovation ahead and create unique mobility solutions for our customers. Our JV will leverage synergies to power growth and expand market share in the World’s 3rd biggest auto market.
Industry Trends: What are the key challenges and opportunities in the Indian EV market? How is MG addressing them?
India’s 4-wheeler EV segment is at a nascent stage and presents immense growth opportunities in a market that is transitioning towards cleaner technologies. Currently contributing just over 2% to overall PV sales, there are certain challenges, such as additional upfront cost, prevailing range anxiety among consumers, slow pace of charging network expansion, reliability, etc that various OEMs are working cohesively to resolve. The collaborative approach that we are witnessing in India is unique and is helping this segment to mature.
At JSW MG Motor India, we have curated innovative solutions such as BaaS ownership programs (to tackle the issue of incremental upfront cost of EVs), eHub by MG app (to provide an innovative one stop solution for all EV charging needs) along with developing reliable and safe EVs to offer utmost peace of mind and seamless ownership experience. We are among the market leaders in the 4W EV space and wish to continue the momentum by enhancing consumer delight.
Charging Infrastructure: How is MG tackling India’s charging infrastructure challenges? Are there plans for expansion or partnerships?
It is our unwavering commitment to create a tech advanced EV ecosystem that enhances user experience, aiding in the acceleration of EV adoption. Hence, development of innovative solutions to charging needs was crucial. Our initiatives such as our eHub by MG app, provides a unified charging platform simplifying the process of locating, reserving, and paying for charging stations. Happy to mention that we have received a record number of 20,000 + downloads in less than 3 months. More and more EV users (both MG customers and non-MG EV customers) are recognizing the ease of operating the app and adopting it in their daily lives for an anxiety-free EV ownership experience. With access to the almost 80% charging network of the country through partnerships with leading providers, this app offers a seamless charging experience. Available in 11 languages and equipped with trip-planning features, the app provides a hassle-free EV charging experience.
Going forward, we will continue adding new charge point operators and aim for a higher coverage of charging network in our app, so provide an enhanced convenience to our customers.
Government Incentives: How do government policies affect EV adoption in India? Are there any policies MG supports?
The Government of India has played a critical role in driving growth and demand for EVs through its favourable policies and incentives. We remain thankful for the encouraging support provided to create an ecosystem for the EV segment. JSW MG Motor India recognises the importance of collaboration between government and private sectors to realise India’s vision for achieving the target of 50% reduction in carbon emission by 2030 and net zero by 2070.
In line with the vision of the Government of India, we at JSW MG Motor India are progressing on the path of achieving Net Zero targets in operation by 2029 and in the entire operation and supply chain by 2045.
Customer Feedback: How has the response been to the BaaS program, and are there areas for improvement?
BaaS has been instrumental in increasing the footfalls in dealerships across locations. There has been an increase of enquiries for our entire EV portfolios. The Windsor bookings open was also successful, with more than 15000 bookings secured within 24 hours. That has been the kind of impact of BaaS. The customers are recognizing the benefits of this program and are turning up to our dealerships with their queries.
Global Trends: How does MG India align with global EV trends? Are there any innovations or partnerships in the pipeline?
MG Motor, with its international presence, has a robust portfolio of globally acclaimed NEVs. We carefully study the needs of the Indian customers and strategically decide to introduce the most relevant model at an opportune time. This is done in a customer-first approach and we shall continue to introduce the right product and create disruptions in various segments. We are always reading the market sentiments and trends and are equipped to bring in the right model at the right time.
Future Outlook: What are MG Motor’s long-term goals for electric mobility in India?
A pioneer in India’s electric vehicle landscape, JSW MG Motor India will continue to disrupt the NEV space through innovative products that are superior in technology, performance and overall ownership experience. We wish to expand our market share in the EV segment and add newer sets of customers to our base.
