Piaggio offers battery subscription model for Ape electric 3W at INR 2.59 lakh – ET Auto

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Piaggio India believes this model can be a game changer for policymakers looking to sustain EV growth beyond the subsidy era.

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 “Battery Subscription Model” for its Ape Elektrik electric 3Ws.

This innovative program aims to revolutionize 3EV ownership by separating the upfront cost of the vehicle from the battery. Customers can now purchase the Ape Elektrik for INR 2.59 lakh (a high-quality Piaggio-approved battery pack for a monthly ex-showroom) and subscribe to fee leased through the dealership, the company said..

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, the company said in a media release.

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.

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, the release said.

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. “

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.”

  • Published On Apr 30, 2024 at 04:30 PM IST

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