MG Select has introduced a Battery-as-a-Service (BaaS) ownership programme for its two premium electric models, the Cyberster roadster and the luxury MPV M9. This aims to lower the high entry prices acting as a barrier to buyers of these vehicles and provide alternative payment options at a reduced price point. With the new scheme, customers will be able to pay a significantly decreased amount up-front for the vehicle and a battery rental fee of ₹8.00 for every kilometre driven.
MG has also announced that their flagship Cyberster model will now cost ₹72.49 lakh with BaaS, nearly ₹10 lakh less than the full ownership price of ₹82.50 lakh. The luxury MPV MG M9 has kept its overall structure and is now priced at ₹69.99 lakh with BaaS, providing a decrease of nearly a similar ₹10 lakh compared to the standard ₹79.95 lakh price tag. Both variants continue to have the battery under a rental agreement rather than full ownership.
Instead of a high one-time payment that covers the overall cost of the vehicle, a large chunk of this amount is shifted towards monthly payments based on distance driven. For customers with moderate yearly mileage, this ownership model works out cheaper while still providing them with the driving experience, performance and features of these premium electric cars.
The Cyberster continues to provide its dual-motor all-wheel-drive powertrain with good acceleration and a range of around 580 km, while the M9 has its roomy luxury cabin along with comfort features and a range of 548 km.By offering the Battery-as-a-Service programme for its flagship variants, MG is bringing over a proven pricing model that has seen good response in the entry-level segment of the Indian EV market. This provides luxury customers with a choice and gives them more flexibility in purchasing one of the brand’s premium electric cars. Both the vehicles will continue to be available only through the MG Select network of experience centres, providing the same high level of retail experience that MG has promised with these models.
The launch of Battery-as-a-Service for the Cyberster and M9 variants marks MG’s intent to appeal to a wider customer base for its most exclusive electric cars. With decreased one-time payments and an option to only pay for what they use, the company is making its high-performance and luxury electric vehicles more accessible without sacrificing the product itself.