India, Dec. 29 -- JSW MG Motor India has announced an expanded assured buyback program for its electric vehicles. The program, called the MG Value Promise, now offers assured buyback options at the end of three, four, or five years. Until now, MG's buyback scheme was limited to a three-year tenure, with a guaranteed resale value of up to 60 per cent. With the latest update, the company has extended the coverage period to five years.

Under the scheme, customers can choose a tenure of three, four, or five years at the time of purchase. At the end of the selected period, owners can either retain the vehicle, surrender it to avail the assured resale value, or upgrade to a new MG model. The buyback program is not linked to any specific financ...