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MG Motor India Achieves 15,000 Windsor EV Production Milestone: Few Opted BaaS Scheme
MG Motor India has reached a notable achievement by producing 15,000 units of the MG Windsor at its Halol facility in Gujarat. This electric vehicle (EV) has been receiving approximately 200 bookings daily. However, only 15% of customers have chosen the Battery-as-a-Service (BaaS) option, showing a stronger preference for outright purchase.
The BaaS scheme offers an alternative to buying the battery outright, but it has confused some customers. This scheme involves third-party financial institutions with varying terms and conditions. Additionally, reselling a Windsor EV purchased through BaaS can be more complex. To address resale concerns, MG offers a buyback option under its MG Shield program, which provides up to 60% of the car's price.
The MG Windsor is available in three variants: Excite, Exclusive, and Essence. The top-spec Essence variant has gained the most popularity, accounting for 80% of bookings. Despite recent price increases, there is a difference of INR 4 lakh between the ex-showroom price and the down payment cost for those opting for BaaS.
| Variant | Without BaaS | With BaaS | Battery Rental |
|---|---|---|---|
| Excite | INR 14 lakh | INR 9.99 lakh | INR 3.9/km |
| Exclusive | INR 15 lakh | INR 10.99 lakh | INR 3.9/km |
| Essence | INR 16 lakh | INR 11.99 lakh | INR 3.9/km |
The BaaS scheme could benefit some users based on their usage patterns, with packages available for three, five, and eight years. However, many customers find that buying the vehicle outright is simpler than getting into battery rental contract complexities.
The success of Windsor EV has significantly boosted MG Motor India's sales figures, accounting for nearly half of its total sales just three months after launch. By the end of December, Windsor EV sales crossed the 10,000 mark. This demand has prompted plans to increase production capacity at the Halol plant.
Production Expansion & Future Plans
This expansion could lead to a temporary dip in production during February but aims to efficiently meet the rising demand once the work is completed. The company will soon reveal the price of its first MG Select model, the Cyberster. Subsequently, the M9 MPV is expected to launch within March.
Bijou Balendran, Deputy Managing Director of JSW MG Motor India, stated they are upgrading their facilities to accommodate the upcoming MG Select products. "We are undertaking some facility modifications to be ready for MG Select products, which will be introduced in the first half of this year," he confirmed.
The growing popularity of electric vehicles like the Windsor exemplifies the consumer shift towards sustainable mobility options in India. As MG continues to innovate and expand its product range, it is poised to capture an even larger share of this evolving market.
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