Piaggio Vehicles Pvt Ltd (PVPL), a division of the Piaggio Group and a leading Indian producer of compact commercial vehicles, as well as trailblazers in electric three-wheelers (3EV), has launched a “Battery Subscription Model” for its Ape Elektrik electric three-wheelers.
This subscription model offers more than just affordability; it addresses a significant concern – battery anxiety. Customers can now experience the advantages of electric mobility without fretting about battery maintenance, longevity, or replacement expenses. Piaggio has assumed full responsibility for battery health, providing reassurance for prolonged ownership of electric vehicles (EVs), as stated in a press release.
Piaggio India sees this model as a potential game-changer for policymakers aiming to sustain EV growth beyond the subsidy phase. By tackling affordability and battery-related worries, the subscription model could encourage broader adoption of electric three-wheelers, leading to cleaner transportation and reduced emissions.
According to the release, the subscription model does not require additional documentation from customers and allows them to unsubscribe from the program or sell their vehicle at any time, similar to a regular purchase.
Customers can buy the Apé Elektrik for Rs 2.59 lakhs (ex-showroom) and opt for a Piaggio-approved battery pack available for lease through the dealership for a monthly fee.
Diego Graffi, Chairman, and MD of Piaggio Vehicles Pvt Ltd, stated, “Piaggio India has a track record of prioritizing customer satisfaction through innovative products and solutions. The industry-first ‘Battery Subscription Model’ eliminates another obstacle to EV adoption by addressing battery concerns and offering a cost-effective ownership option. We are confident that this model will sustain EV growth in a post-subsidy environment.”
Amit Sagar, Executive Vice President – CV Domestic Business at Piaggio Vehicles Pvt Ltd, commented, “Customers can now own an electric three-wheeler with just INR 30,000 down payment and a monthly EMI of INR 8,000, making it as accessible as a CNG-powered three-wheeler. The Battery Subscription model is poised to drive a new wave of EV adoption in the industry. Our initial discussions with channel partners and consumers lead us to believe that we have a winning proposition. We believe that the model will further drive EV adoption in a post-subsidy world, ensuring that customers and manufacturers make the most of the immense EV opportunity.”
