Piaggio’s Innovative Battery Subscription Model Transforms Electric Three-Wheeler Ownership

Piaggio Vehicles

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Piaggio Vehicles, a subsidiary of the Piaggio Group, has unveiled an ambitious strategy aimed at introducing a ‘Battery Subscription’ model for its Apé Elektrik electric three-wheelers.

This initiative promises to significantly reduce the entry barrier into electric vehicle (EV) ownership, with prices starting at just Rs 2.59 lakh, in stark contrast to the conventional fixed battery electric three-wheelers, which typically command prices starting around Rs 4 lakh.

Revolutionizing EV Ownership with Battery Subscription

Diego Graffi, the Chairman and Managing Director of Piaggio Vehicles, expressed enthusiasm about this groundbreaking move, stating, “The industry-leading ‘Battery Subscription Model’ represents a major stride in overcoming obstacles to EV adoption, particularly concerning battery-related concerns. Additionally, it offers a financially viable ownership alternative. We firmly believe this model will propel EV growth, even without subsidies.”

Simplified Ownership and Reduced Upfront Costs

The core objective behind this initiative is to streamline ownership processes and eliminate upfront battery expenses. This move aligns with the Government of India’s Electric Mobility Promotion Scheme (EMPS), which aims to accelerate EV adoption nationwide by halving subsidies.

Addressing Customer Concerns and Promoting Adoption

Piaggio’s innovative solution seeks to alleviate customer apprehensions regarding battery maintenance, lifespan, and resale value, instilling confidence and fostering adaptability in a post-subsidy landscape.

By offering a hassle-free battery leasing option, Piaggio aims to encourage broader adoption of electric three-wheelers, contributing to cleaner transportation and reduced emissions.

Flexible Subscription Terms and Benefits

Under the battery subscription model, Piaggio customers can acquire the Apé Elektrik for Rs 2.59 lakh and opt for a high-quality Piaggio-approved battery pack through a monthly subscription leased via the dealership.

The subscription entails a battery lease term of either 120,000 kilometers or eight years for cargo vehicles, and 150,000 kilometers or eight years for passenger vehicles. Following the designated mileage, the monthly rent diminishes to zero. Furthermore, the subscription includes battery replacements at the same rental rate after the initial lease period.

Expansion Plans and Accessibility

The battery subscription model is set to debut in several key Indian cities, including Gurgaon, Agra, Warangal, Raipur, Mathura, Nizamabad, Nagpur, Lucknow, Kurnool, Bangalore Kanpur, Anantpur, Tumkuru, Allahabad, Vijayawada, Mysuru, Delhi, Guntur, and Kolar. Additionally, vehicles under this model are available in Noida, Vizag, Mumbai, Ghaziabad, Chennai, Ahmedabad, Greater Noida, Hyderabad, Pune, and Faridabad.

Streamlined Process and Customer Convenience

Customers can enroll in the subscription model without additional documentation and retain the flexibility to cancel the program or sell their vehicle at any time, mirroring the convenience associated with regular purchases.

Affordable Ownership Options

Amit Sagar, Executive Vice President of CV Domestic Business at Piaggio Vehicles, emphasized the affordability aspect, stating, “Customers can now procure an electric three-wheeler with a mere down payment of Rs 30,000 and an EMI of Rs 8,000 per month, making ownership as accessible as that of a CNG three-wheeler.”

Piaggio’s Battery Subscription Model heralds a new era in electric three-wheeler ownership, promising affordability, convenience, and sustainability while spearheading the transition towards cleaner mobility solutions in India.

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