The MG ZS EV is recognised as a premium electric car with an expensive price tag. Ever since the ZS EV was first launched in 2020, its premium price has repelled many buyers. However, in September 2024, MG introduced the ZS EV with a BaaS scheme, enhancing its financial appeal. Since BaaS significantly cuts down the ZS EV’s upfront price, it makes it more appealing to buyers who would not consider it because of its high price tag. Here is an analysis of the ownership cost of the MG ZS EV with and without BaaS for you to decide whether you should consider the MG ZS EV in the BaaS scheme.
MG ZS EV BaaS vs Ex-Showroom Price
| Variant | Ex-showroom price | Battery Price | BaaS Price |
| Executive 50.3kWh | Rs. 17.99 lakh | Rs. 4.99 lakh | Rs. 13 lakh + Rs. 4.5/km |
| Excite Pro 50.3kWh | Rs. 18.75 lakh | Rs. 5.24 lakh | Rs. 13.51 lakh + Rs. 4.5/km |
| Exclusive Pro 50.3kWh | Rs. 19.75 lakh | Rs. 5.24 lakh | Rs. 14.51 lakh + Rs. 4.5/km |
| Essence 50.3kWh | Rs. 20.75 lakh | Rs. 5.24 lakh | Rs. 15.51 lakh + Rs. 4.5/km |
MG ZS EV Price Comparison: Initial BaaS Price vs Ex-Showroom Price
The MG ZS EV is available with only a 50.3 kWh battery pack, and it charges at the same subscription price of Rs. 4.5/km for all variants. With BaaS, the MG ZS EV costs Rs. 13 – 15.51 lakh + Rs. 4.5/km. Such BaaS prices slash the upfront cost of the MG ZS EV by as much as Rs. 5.24 lakh.
All the same, most finance partners of MG take a minimum monthly running of 1,500 km. This means, to buy an MG ZS EV in the BaaS scheme, you have to pay a minimum of Rs. 4.5 X 1,500 = Rs. 6,750 every month. And to cover 1,500 km in a 30-day month, you need to drive 50 km every single day.
MG ZS EV Price Comparison: Cost of Ownership
Let’s compare the cost of ownership of the MG ZS EV with BaaS against the MG ZS EV as a whole unit, including the battery.
Case A: MG ZS EV (Base Executive variant) with BaaS
Upfront cost: Rs. 13 lakh
Minimum monthly charge – Rs. 4.5 X 1,500 = Rs. 6,750
Charging cost
- The average domestic tariff for electricity is Rs. 8/unit (kWh).
- Charging a 50.3-kWh battery pack requires around 53 units (assuming minor transmission losses), costing Rs. 424.
- Given the MG ZS EV 50.3 kWh battery’s claimed driving range of 461 km and real-world driving range, it will take around 4 full charging cycles to cover 1,500 km.
- Monthly electricity usage cost for 1,500 km will be around 4 X Rs. 424 = Rs. 1,696
Total monthly expenditure: Rs. 6,750 + Rs. 1,696 = 8,446
Total yearly expenditure: Rs. 8,446 X 12 = Rs. 1,01,352 + maintenance cost
5 years’ expenditure: Rs. 1,01,352 X 5 = Rs. 5,06,760 + maintenance cost
5 years ownership cost: Rs. 13,00,000 + Rs. 5,06,760 = Rs. 18,06,760 + maintenance cost
Now, if you finance the vehicle at a 9% interest rate for 5 years:
20% downpayment = 20 % of Rs. 13 lakh = Rs. 2,60,000
Loan amount = Rs. 10,40,000
Total amount = Rs. 10,40,000 + Rs. 2,55,321(interest) + Rs. 2,60,000 = Rs. 15,55,321
5 years ownership cost (with BaaS) = Rs. 15,55,321 + Rs. 5,06,760 = Rs. 20,62,081 + maintenance cost
Case B: MG ZS EV (Base Executive variant) without BaaS
Upfront cost: Rs. 17.99 lakh
Charging cost: Rs. 1,696 (as calculated above)
Total monthly expenditure: Rs. 1,696
Total yearly expenditure: Rs. 1,696 X 12 = Rs. 20,352 + maintenance cost
5 years’ expenditure: Rs. 20,352 X 5 = Rs. 1,01,760 + maintenance cost
5 years ownership cost: Rs. 17,99,000 + Rs. 1,01,760 = Rs. 19,00,760 + maintenance cost
Now, if you finance the vehicle at a 9% interest rate for 5 years:
20% downpayment = 20 % of Rs. 17.99 lakh = Rs. 3,59,800
Loan amount = Rs. 14,39,200
Total amount = Rs. 14,39,200 + Rs. 3,53,325 (interest) + Rs. 3,59,800 = Rs. 21,52,325
5 years ownership cost (without BaaS) = Rs. 21,52,325 + Rs. 1,01,760 = Rs. 22,54,085 + maintenance cost
Difference between cost of ownership of models with BaaS and without BaaS = Rs. 22,54,085 – Rs. 20,62,081 = Rs. 1,92,004
Therefore, in 5 years of ownership, an MG ZS EV (Executive) with BaaS will save you around Rs. 1.9 lakh, compared to buying the same model as a whole unit.
ALSO READ: Electric Cars Available with BaaS Scheme in India
Final Thoughts
The MG ZS EV has long been considered an expensive electric car, and BaaS brings it more within the reach of an average Indian buyer. Mainly, the BaaS scheme offers the benefit of excluding the ZS EV’s battery price from the upfront cost and charging small monthly payments for battery usage. Moreover, owning a ZS EV in the BaaS scheme for 5 years will be around Rs. 1.9 lakh more affordable than owning the same car as a whole unit for 5 years. All the same, as is the case with any other electric car with BaaS, it is important to make an estimate of your monthly running costs to benefit from the BaaS, because BaaS can prove rather expensive for users with high-mileage driving needs.
FAQ
What are the MG ZS EV BaaS prices?
The MG ZS EV BaaS prices are Rs. 13 lakh + Rs. 4.5/km for Executive, Rs. 13.51 lakh + Rs. 4.5/km for Excite Pro, Rs. 14.51 lakh + Rs. 4.5/km for Exclusive Pro, and Rs. 15.51 lakh + Rs. 4.5 /km for top Essence variant.
Is the MG ZS EV with BaaS worth considering?
Yes! The MG ZS EV with BaaS saves the upfront cost of up to Rs. 5.24 lakh, compared to buying the same car as a whole unit. Moreover, in 5 years of ownership, the ZS EV with BaaS should remain around Rs. 1.9 lakh more affordable, compared to the 5-year-ownership of the same model without BaaS.
What is the driving range of the MG ZS EV with BaaS?
The claimed driving range of the MG ZS EV is 461 km. Meanwhile, BaaS is only a battery-rental model; it does not change the driving range of an electric car.
