Piaggio to launch electric three-wheeler for India in December quarter

Italian company to invest at least Rs 200 crore over the next three years

Piaggio Vehicles, the Indian arm of the Italian automaker, will invest at least Rs 200 crore in three years on product development, including the launch of a fully electric three-wheeler.

Piaggio will start pilot production of the vehicle by September, said Diego Graffi, the company's chief executive officer and managing director, in Mumbai.

Piaggio’s rivals, Mahindra, Bajaj Auto and TVS Motor Company, have already announced their electric three-wheelers. 

Piaggio on Friday launched a new three-wheeler called Ape City+. Built on a new platform and equipped with a new 230cc engine, Ape City+ will be available in four fuel options: LPG, CNG, petrol, and diesel. 

Priced between Rs 1.74 lakh and Rs 1.9 lakh, the model will be available as a BS-IV variant and will be upgraded to BS-VI before end of the year. The company is expanding its engine capacity to 100,000 per year. Its vehicle making capacity is at 380,000 units per annum. “The last mile passenger transport dynamics is changing rapidly as cities are expanding into suburbs. There is a requirement of a versatile commercial people carrier, which can cater to both in-city and outskirt applications,” said Graffi.

Piaggio's electric three-wheeler, which will be launched in the fourth quarter, will be priced similar to the on-road price of its CNG three-wheeler, which comes in the range of Rs 1.45 lakh-Rs 1.95 lakh. “This is because the cost of the battery is not involved as we will be offering swappable battery service in association with Sun Mobility,” Graffi said.