Piaggio Vehicles Pvt Ltd (PVPL) has introduced a Battery Subscription Model for its Ape Elektrik electric three-wheelers, aiming to make electric vehicle (EV) ownership more affordable by decoupling the upfront cost of the vehicle from the battery. PVPL is a prominent manufacturer of three-wheeler commercial vehicles in India, known for brands like Ape and Vespa.
Ape Elektrik is available for purchase at a competitive price of INR 2.59 lakh (ex-showroom). To further enhance accessibility, Piaggio offers a financing option requiring a down payment of just INR 30,000 and a monthly EMI of INR 8,000.
This model introduces a unique battery subscription plan, designed to provide convenience to consumers. Instead of buying the battery outright, individuals have the option to lease a top-tier Piaggio-endorsed pack for a monthly fee. This innovative approach addresses concerns about battery maintenance, longevity, and replacement expenses, with Piaggio taking full responsibility. Moreover, subscribers enjoy increased flexibility, with minimal paperwork and the option to unsubscribe or sell their vehicle at any time, similar to a conventional purchase.
Piaggio India anticipates this model will revolutionize EV adoption by tackling affordability and battery concerns, thereby encouraging wider acceptance of electric three-wheelers, especially in a post-subsidy environment.