With the Windsor EV, JSW and MG Motor aim to increase their electric car sales to 50%. Priced at ₹9.9 lakh ex-showroom, the Windsor EV will directly compete with the Punch EV, also priced at ₹9.9 lakh, and the Nexon EV, which costs ₹12.49 lakh, along with the Ertiga Petrol at ₹8.69 lakh and the Hyundai Creta at ₹11 lakh.
Speaking to CNBC-TV, Parth Jindal, Group Director, JSW MG, said, “We want to bust the myth that electric vehicles are expensive. With BaaS, we have managed to reduce the cost of acquiring an electric vehicle below that of an internal combustion engine vehicle. BaaS has the power to increase the adoption of electric vehicles.”
What is BaaS?
JSW and MG Motor are offering the vehicle at an ex-factory price of Rs 9.9 lakh excluding battery costs. Customers can subscribe to the battery, which will cost Rs 3.5 per kilometre.
“Offering battery as a service (BaaS) has significantly reduced the cost of car ownership. The customer can rent the battery and pay for it while driving and the cost of battery rental is Rs 3.5 per kilometre. With the help of connected car features, the total number of kilometres travelled every month will be calculated and the customer will have to pay the amount to the financiers. On an average, the monthly running cost should be more affordable than that of an internal combustion engine vehicle,” said the company’s Chief Commercial Officer Satinder Singh Bajwa.
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The company will also offer buyers the option to purchase the vehicle at a higher price, which includes the one-off cost of the battery. Prices for other variants will be announced soon.
Jindal also told CNBC-TV18 that the company has priced the Windsor EV very aggressively in order to compete with the larger internal combustion compact SUV segment. “I hope we can double MG Motor India’s market share by the end of next year, from the current 1.8%,” he said.
Rajeev Chaba, CEO Emeritus, MG Motor India, mentioned that the electric CUV is likely to offer a range of 330-340 kilometres. “The company is offering a first-of-its-kind lifetime battery warranty to the first owner of an MG Windsor. With the eHUB by MG app, the company is offering one year of free public charging, making it easier than ever for Windsor owners to charge the vehicle anytime, anywhere. JSW MG Motor India is also introducing its 3-60 Assured Buyback Scheme for the Windsor, which guarantees that it will retain 60 per cent of its value after three years or 45,000 kilometres,” Chaba said.
JSW and MG Motor India are working on localising 80% of EV manufacturing in Windsor over the next 12-13 months.
As for future plans, Jindal said the company will soon hold a groundbreaking ceremony for an integrated EV plant in Odisha. By 2027, the JSW Group aims to manufacture EV cells in India, along with electric trucks and buses, under the JSW brand. “Our immediate priority is to increase the capacity of MG Motor India’s Halol plant from 110,000 to 300,000 and reduce costs by localising component manufacturing,” he said.
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