Piaggio Ape Electric Rickshaw 3W Subscription Model Launched – 30k Down Payment, 8k EMI

Piaggio’s new Battery Subscription Model makes 3W EV ownership even more attractive and highly affordable by eliminating upfront battery cost

The recent announcement by the Government of India with regard to electric vehicle subsidy has upset the segment. An earlier Faster Adoption and Manufacturing of Electric (and Hybrid) Vehicles-II has been replaced by Electric Mobility Promotion Scheme 2024 (EMPS), which offers lower subsidies for both electric 2Ws and 3Ws when compared to the earlier FAME-II scheme, which expired on March 31, 2024.

Piaggio Ape Electric at Rs 2.59 Lakh Plus Battery Rent

Piaggio is a well known entity in the electric three wheeler electric segment, scoring high in sales each month ahead of Bajaj Auto, Mini Metro and Unique International. They have now brought in a special scheme that will appeal to buyers of its Ape Electric electric three wheelers. This battery subscription model aims to revolutionize three wheeler ownership with more affordability by separating upfront cost of the vehicle from the cost of the battery.

Buyers of the Piaggio Ape Electric can now make their purchases at Rs 2.59 lakh (ex-showroom). They can then subscribe to Piaggio approved battery pack at a monthly rent via the company dealership. While the chassis and powertrain are registered in the name of the customer, allowing them to avail loan facilities. Such an option will allow buyers to own electric vehicle without the stress of battery cost, maintenance, battery life span and replacement expenses.

Piaggio dealerships offer these batteries to customers at a monthly rent for a lease period of 120,000 kms or 8 years for its cargo movers and at 150,000 kms or 8 years for passenger vehicles. On reaching the designated mileage, there is no more monthly rent to be paid. Piaggio also takes on the full onus of battery health even in the case of long term ownership. This special battery subscription module also includes battery replacement at the same amount of rent following the initial lease period.

Piaggio Battery Subscription Model across 30 Indian Cities

The Piaggio Battery Subscription Model has been introduced initially across 30 Indian cities. These include 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 and Faridabad. It requires no added documents from customers while buyers are given the liberty to unsubscribe from this program or sell their vehicle as they desire without any binding to the subscription scheme.

Speaking on this special battery subscription model, 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.”

Mr Amit Sagar, Executive Vice President – CV Domestic Business at Piaggio Vehicles Pvt Ltd has also stated that, “Customer can now own an electric 3W at down-payment 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 consumers 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.”