The ambitious idea to offer a “Battery Subscription” model for its Apé Elektrik electric three-wheelers has been revealed by Piaggio Vehicles. In contrast to fixed battery electric three-wheelers, which start at about Rs 4 lakh, the company’s electric three-wheelers will now start at Rs 2.59 lakh.
Diego Graffi, Chairman and Managing Director of Piaggio Vehicles, commented on the announcement, saying, “The industry-first ‘Battery Subscription Model’ eliminates another barrier to electric vehicle (EV) adoption by addressing battery concerns while also providing a cost-effective ownership option. We are confident that this model will continue to drive EV growth even in the absence of subsidies.”
The main objective of this measure is to simplify ownership and eliminate upfront battery costs. Under the new Electric Mobility Promotion Scheme (EMPS), the Indian government aims to expedite the countrywide adoption of electric vehicles (EVs) by halving subsidies.
In a press statement, the company stated that by removing clients’ worries about battery maintenance, longevity, and resale, its ground-breaking solution offers them peace of mind and enables them to be flexible during the post-subsidy phase.
Now, Piaggio clients may lease a premium battery pack certified by Piaggio for a monthly price through the dealership, or they can buy the Apé Elektrik for Rs 2.59 lakh.
The statement said, that by addressing affordability and battery concerns, the subscription model can encourage broader adoption of electric three-wheelers, leading to cleaner transportation and reduced emissions.
The vehicle chassis and powertrain are registered in the customer’s name allowing for hypothecated loans through NBFCs.
Piaggio offers a battery lease term of 120,000 kilometres or eight years for cargo vehicles and 150,000 kilometres or eight years for passenger vehicles, with the monthly rent reduced to nil after reaching the designated mileage. The subscription also includes battery replacements for the same rental amount after the initial lease term.
The battery subscription model will be launched in several key Indian cities. This includes Gurgaon, Agra, Warangal, Raipur, Mathura, Nizamabad, Nagpur, Lucknow, Kurnool, Bangalore Kanpur, Anantpur, Tumkuru, Allahabad, Vijayawada, Mysuru, Delhi, Guntur and Kolar. The vehicles under this model are also available in Noida, Vizag, Mumbai, Ghaziabad, Chennai, Ahmedabad, and Greater Noida, Hyderabad, Pune and Faridabad.
Customers are not required to provide any additional documentation under the subscription model, and they can cancel the programme or sell their vehicle at any time, just as they would with a regular purchase.
Amit Sagar, Executive Vice President, CV Domestic Business at Piaggio Vehicles, added that, “Customers can now own an electric three-wheeler for a down payment of only Rs 30,000 and an EMI of Rs 8,000 per month, making it as easy to own as a CNG three-wheeler.
