Date: May 1, 2024. — Piaggio Vehicles Pvt Ltd (PVPL) has launched a Battery Subscription Model for its Ape Elektrik electric three-wheelers. This program is designed to make electric vehicle (EV) ownership more affordable by separating the upfront cost of the vehicle from the battery. Piaggio Vehicles Pvt Ltd is a manufacturer of three-wheeler commercial vehicles in India, including brands like Ape and Vespa.
The Ape Elektrik is now available for purchase at an attractive price point of INR 2.59 lakh (ex-showroom). To make it even more accessible, Piaggio offers a financing option with a down payment of just INR 30,000 and a monthly EMI of INR 8,000.
It introduces a distinctive battery subscription plan aimed at enhancing convenience for consumers. Rather than purchasing the battery outright, individuals now have the option to lease a top-tier Piaggio-endorsed pack for a monthly fee. This innovative subscription approach alleviates concerns surrounding battery maintenance, longevity, and replacement expenses, as Piaggio assumes full accountability. Additionally, subscribers benefit from enhanced flexibility, as the process entails minimal paperwork and permits the option to unsubscribe or sell their vehicle at any time, akin to a conventional purchase.
Piaggio India believes this model will be a game-changer for EV adoption. It addresses affordability and battery concerns, thus encouraging wider adoption of electric three-wheelers, especially in a post-subsidy environment.
