Vidyut Partners With MG Motor To Make EV Ownership Easier With Battery-as-a-Service

Vidyut, a Bengaluru-based startup specializing in electric vehicles (EVs), has partnered with JSW MG Motor India to launch Battery-as-a-Service (BaaS) financing option for several MG electric models. This program allows customers to rent the battery starting at just Rs 2.5 per kilometer, significantly reducing running costs compared to traditional fuel vehicles. Customers can choose to continue renting the battery or buy it outright after a financing period of 3 to 5 years. MG EV customers also benefit from a guaranteed 60 percent buyback value after three years of ownership. Vidyut is also expanding into the sale and financing of used EVs and has raised $14 million in funding.