JSW MG Motor has introduced the Comet Mini, a vehicle with an entry price of Rs 4.99 lakh, marking a daring move into the electric vehicle (EV) industry. The price cut is a component of its battery-as-a-service (BaaS) concept, which gives consumers the option to pay for battery consumption based on kilometers driven and isolates the battery from the car’s upfront cost.
The business, a joint venture between China’s SAIC Motor and JSW Group, expanded the BaaS program to include the Comet Mini and ZS EV. The Comet’s and the ZS EV’s beginning prices are been reduced by Rs 2 lakh and Rs 4.99 lakh, respectively. Customers who choose this model will be required to pay a battery rental; the Comet’s fee is Rs 2.5 per kilometer, while the ZS EV’s is Rs 4.5 per kilometer. In addition, the user would be responsible for paying the charging fee, which is around Rs 1 per kilometer.
There is still the option to buy the automobile with the batteries included in the price. In order to further entice buyers, the product also offers a 60% buyback value after three years of ownership.
The Windsor EV, which retailed for Rs 9.99 lakh and required a battery rental of Rs 3.5 per kilometer, was the vehicle that launched the BaaS program. Buyers must, however, agree to pay a minimum of Rs 5,250 per month for a battery that can cover 1,500 kilometers. Comparable to a mobile data plan, this model charges consumers for any additional data used above the allotted limit—in this case, the 1,500 km threshold. Hero Fincorp and Bajaj Finserv, two of JSW MG Motor’s banking partners, will oversee the additional payments.