Perhaps the biggest talking point around the MG Windsor EV is its ‘battery-as-a-service’ program, which the company markets as a way to ‘rent’ the battery separately from the car. MG announced the price of the car starting at Rs. 9,99,990 onwards for buyers who are opting for this program, with the cost of the ‘rental’ being Rs. 3.5/km, with running calculated through telematics.
However, it’s worth pointing out that it isn’t really a rental service, and is instead a financing plan that bases monthly or yearly payments on actual usage, rather than on the cost of the battery and car itself. Given that the battery cannot realistically be separated from the car, you’re still buying both, with the effective value of the battery coming in through a loan that you repay through a usage-based - but very much pre-determined - plan.
These payment plans can be set up either with or without a minimum usage guarantee of 1500km per month, and depend on various factors including your credit score. For example, the plan from Bajaj Finance comes with a minimum usage guarantee per month and no additional charge for extra kilometres. This would be advantageous to those with heavy running, since you’ll be paying for 1500km at Rs. 3.5/km (Rs. 5250 per month) regardless of how much you drive.
There are four financiers you can go with for these programs, and all have different credit score expectations, costs per kilometre, minimum running guarantees, and charges for running above the guarantee. All of this will be tracked by MG and the financiers through telematics in the Windsor EV.
A couple of other points worth noting - the car can still be repossessed if the owner stops making payments for the BaaS program. The owner will, of course, receive the proceeds of the sale after the repossession process, after recovery of the outstanding dues. You can also opt out of this program and pay off the cost of the battery at any time, or even opt for the company’s 3-60 guarantee, where MG assures a buyback value of up to 60 percent of the value of the car within three years of purchase (depending on the condition.
Additionally, you do have to pay for the cost of charging or electricity consumption separately, over and above the cost of the BaaS program. That said, MG is offering one year of free public charging to buyers of the Windsor EV, through the eHub by MG app. If you choose to skip the BaaS financing programs, the MG Windsor EV starts at Rs. 13,49,800 (ex-showroom).
For a detailed explanation as well as answers to FAQs, check out this comprehensive explainer on the MG Windsor EV’s Battery-as-a-service program from our sister publication Autocar India.