Vidyut and JSW MG Motor India Unveil Affordable EV Ownership with New Battery-as-a-Service Model

Vidyut partners with JSW MG Motor India to offer affordable EV ownership through a flexible Battery-as-a-Service rental model. 

Vidyut has aligned with JSW MG Motor India to unveil a new BaaS model because running an EV does not have to be expensive. This superb pay-as-you-go plan provides batteries on demand, dramatically cutting the initial investment and operational expenses of an EV.

Affordable EV Ownership

The BaaS model helps lower the purchasing cost of an EV since customers can buy the car without the battery system. As with conventional battery ownership, people are not forced to pay the entire battery ownership upfront, but can pay as used in proportion to the usage of the battery on a monthly, daily or other period as preferred by the vehicle owner. This system changes various costs in a way that reduces the barriers of owning an EV.

• Battery rental model: The pay is based on vehicle usage.
• Lower initial acquisition cost: For this, no upfront battery purchase is needed.
• Flexible exit options: Through this, customers can exit the rental agreement by paying the remaining battery value at once.

Flexible Ownership Options

After the financing period of 3 to 5 years, the clients have an option of either undergoing rental or directly purchasing the battery. Vidyut’s model is flexible since it allows clients to terminate the rental agreement at any time, contingent on paying the residual value of the battery.

Assurance and Confidence

MG EV will also help customers to embrace electric driving as they will have an added advantage of having the vehicles bought back at 60% of its value after the third year. This incentive renders the change to EVs feasible and attractive.

Success in Commercial Sector

Vidyut’s model has worked very well in the commercial EV space through its partnership with Tata Motors as well as Mahindra, and may extend the same to the consumer EV space through this partnership with JSW MG Motor India.

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Ajay Saji George

Ajay is a passionate EV enthusiast with a deep interest in the latest developments in the electric vehicle industry. He enjoys sharing insights and engaging with the growing EV community through his writing.

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