MG Comet EV BaaS Explained: Price, Payment Plan

The MG Comet EV is one of the most special cars in the Indian market. Its compact size, ample space for four adults, premium cabin, and decent range make it a highly practical electric car for day-to-day city driving. Moreover, not only is the Comet the most affordable electric car, but it also comes with BaaS, which makes it even more attractive to buyers with tight budgets. This article explains the BaaS scheme of the MG Comet EV and evaluates how economical this little electric car can be for you if you buy it with BaaS.

What is BaaS?

BaaS stands for Battery as a Service. In BaaS, the cost of the battery is not included in the ex-showroom price of an electric car, and the buyer can buy the electric car and use the battery as a service. Hence the name – Battery as a Service. So, with BaaS, instead of buying the most expensive part of an electric car, you rent it, lease it, or pay a monthly fee to use it as a service. In addition to that, since the cost of the battery is not included in the ex-showroom price, the upfront cost of the electric car drops significantly, making it more affordable and flexible to buyers. Meanwhile, the service provider maintains the battery and replaces it if needed.

There are two ways to use the battery as a service. First is swapping a discharged battery with a fully charged one at the swapping station. However, this type of battery-swapping arrangement is usually done for commercial electric vehicles. Second is paying a monthly fee to the service provider to use the battery. The monthly fee depends on the number of kilometres you plan to drive your electric vehicle in a month.

MG Comet EV BaaS Prices

MG Comet EV BaaS subscription charge is Rs. 3.2/km for all variants. However, most finance partners of MG charge for a minimum monthly running of 1,500 km. Therefore, you have to pay at least Rs. 3.2 X 1,500 = Rs. 4,800 every month. Moreover, to drive 1,500 km in a 30-day month, you need to drive 50 km every single day.

An imperative factor to consider while going with BaaS is that the per-kilometre charge does not include RTO tax, Insurance, TCS, and other statutory taxes. You will have to pay taxes on the full vehicle value because the battery is part of your vehicle.

Value Additions

The MG Comet EV comes with the following financial perks:

• The standard warranty is 3 years or 1,00,000 km (whichever is earlier).
• Lifetime warranty on the battery pack for the first owner. However, if the car is resold, the warranty is reduced to 8 years / 1,60,000 km for the second owner. Note that the 8 years / 1,20,000 km is calculated from the day the vehicle was bought as a brand-new model.
• Free 3 years of Roadside Assistance (RSA) and 3 free scheduled labour services.
• Free portable charging cable, 3.3 kW portable charger or 7.4 kW AC fast charger (depending on the variant), along with free wall box installation.
• Assured buyback plan – you can get 40 to 60 percent guaranteed resale value at the end of 3, 4, or 5 years, depending on the chosen plan.

Final Thoughts

The MG Comet EV is quite a premium and practical hatchback for urban usage, and its BaaS scheme makes its ownership easier and considerably more affordable. All the same, while buying an MG Comet EV with a BaaS scheme, it is important to consider the terms of the service provider or financer, as most finance partners charge a minimum monthly fee for 1,500 monthly running. At the same time, it is important to take your daily driving requirements into account to make the most of the BaaS scheme.

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