Piaggio India Disrupts Electric 3-Wheeler Market with Game-Changing ‘Battery Subscription Model’ for a Post-subsidy World !
-
Chennai:
Piaggio Vehicles Pvt Ltd (PVPL), a subsidiary of the
Piaggio Group and a leading Indian manufacturer of small commercial vehicles
and electric three-wheeler (3EV) pioneers, has announced a groundbreaking “Battery
Subscription Model" for its Apé Elektrik electric 3Ws.
Unleashing
a New Era for EV Ownership
This
innovative program aims to revolutionize 3EV ownership by separating the
upfront cost of the vehicle from the battery. Customers can now purchase the
Apé Elektrik for INR 2.59 lakhs (ex-showroom) and subscribe to a high-quality
Piaggio-approved battery pack for a monthly fee leased through the dealership.
The subscription model goes beyond affordability. It addresses a
major pain point – battery anxiety. Customers can now enjoy the benefits
of electric mobility without worrying about battery maintenance, lifespan, or replacement costs.
Piaggio is taking full responsibility for battery health, offering peace of
mind for long-term EV ownership.
Piaggio India believes this model can be a game changer for
policymakers looking to sustain EV growth beyond the subsidy era. By addressing
affordability and battery concerns, the subscription model can encourage wider
adoption of electric 3Ws, leading to cleaner transportation and reduced
emissions.
Subscription Model Details:
- Customers purchase the Apé Elektrik chassis directly
from dealerships for INR 2.59 lakhs (ex-showroom
Maharashtra ).
- The battery is provided to the customer at the
dealership for a monthly rent
- The vehicle chassis and powertrain are registered in
the customer's name, allowing for loans with hypothecation on the chassis
and powertrain through NBFCs.
Subscription Tenure and Benefits
- The battery lease term is 120,000 kilometres or 8 years
for cargo vehicles and 150,000 kilometres or 8 years for passenger
vehicles.
- After reaching the designated mileage, the monthly rent
reduces to INR 0.
- The subscription includes battery replacements at the
same rental amount after the initial lease term.
Initial Availability and Expansion Plans
The battery subscription model will be launched in all the key
Indian cities (30 cities)
|
Gurgaon |
Agra |
Warrangal |
|
Raipur |
Mathura |
Nizamabad |
|
Nagpur |
Lucknow |
Kurnool |
|
Bangalore |
Kanpur |
Anantpur |
|
Tumkuru |
Allahabad |
Vijaywada |
|
Mysore |
Delhi |
Guntur |
|
Kolar |
Noida |
Vizag |
|
Mumbai |
Ghaziabad |
Chennai |
|
Ahmedabad |
Greater
Noida |
Hyderabad |
|
Pune |
Faridabad |
|
The
subscription model requires no additional documentation from customers and of
desired, allows them to unsubscribe the program or sell their vehicle at any
time like a regular buy.
Speaking about the announcement Mr Diego Graffi, Chairman and MD Piaggio Vehicles Pvt Ltd said:
"Piaggio India has a long history of prioritizing customer satisfaction
through innovative products and solutions. The industry-first ‘Battery
Subscription Model’ removes another barrier to EV adoption by addressing
battery concerns and offering a cost-effective ownership option. We are
confident this model will sustain EV growth in a post-subsidy environment.
"
Adding his views, Mr Amit Sagar, Executive Vice President - CV Domestic Business at Piaggio Vehicles Pvt Ltd said:
“Customer can now own an electric 3W
at downpayment of Just INR 30,000 and an EMI of INR 8,000 per month which makes
it as easy to own as compared to 3W CNG. Battery Subscription model will bring
in a new wave of EV adoption in the industry. Our initial interaction with
channel partners and consumer makes us believe that we have a winner. We
believe that the model will also continue the EV adoption in a post-subsidy
world ensuring that customers and manufacturers get the best from the massive
EV opportunity.”
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