Piaggio & RiseWise Launch 100% Battery Replacement Financing for Electric Three-Wheelers – Make EV Ownership Hassle-Free for Commercial Operators!

Key Highlights

• 100% financing available for battery replacements after 3–4 years

• Repayment period up to 24 months, interest starting at 10.99% p.a.

• Initial coverage in Maharashtra, Gujarat, Chhattisgarh, and Karnataka

• Financing accessed via authorized Piaggio dealers, using vehicle as collateral

• Mandatory battery replacement insurance included to ensure uninterrupted operations

Piaggio Vehicles Pvt. Ltd. has partnered with RiseWise Capital to launch a battery replacement financing program for electric three-wheeler owners in India. This initiative allows up to 100% financing for new batteries after three to four years of vehicle use, with repayment terms of up to 24 months and interest rates starting at 10.99% per annum.

The program initially covers Maharashtra, Gujarat, Chhattisgarh, and Karnataka, with plans for gradual expansion across India. Customers can access financing through authorized Piaggio dealerships, using their existing vehicle as collateral.

Addressing High Battery Costs

Battery replacement is a major concern for EV operators. Batteries typically last three to four years, and replacement costs can be 30% to 40% of the vehicle’s total price. This financing program allows operators to spread the cost over two years, reducing financial stress and ensuring uninterrupted business operations.

Statements from Piaggio and RiseWise

Diego Graffi, Chairman and Managing Director of Piaggio Vehicles, said the program makes electric vehicle ownership more financially viable for commercial operators and is the first such initiative in India’s electric three-wheeler sector.

Tejal Bhartiya, MD and CEO of RiseWise Capital, highlighted that the program ensures continuous vehicle uptime while offering flexible repayment options. The financing also includes mandatory battery replacement insurance, which can be arranged through Piaggio dealers or their partners.

About Piaggio and RiseWise

Piaggio Vehicles, a subsidiary of Italy’s Piaggio Group, entered India in 1999. Its Baramati plant has an annual capacity of 330,000 commercial vehicles and 180,000 two-wheelers, producing diesel, petrol, CNG, LPG, and electric variants.

RiseWise Capital specializes in mobility financing solutions and operates in four Indian states, offering customized financial products for the transportation sector.

Growing Electric Three-Wheeler Market

India’s electric three-wheeler market is expanding as businesses look for cost-effective and eco-friendly alternatives. Operators in last-mile delivery and passenger transport make up a large portion of this market. Battery lifecycle management and financing solutions like this are becoming critical for sustainable fleet operations.

Also Read: Delhi’s Big Pollution Crackdown: From Nov 1, Only Clean Vehicles Can Enter!

CMV360 Says

The partnership between Piaggio and RiseWise Capital addresses a major challenge in electric three-wheeler ownership: high battery replacement costs. By offering 100% financing with flexible repayment options, this initiative helps commercial operators maintain continuous operations, manage cash flow efficiently, and adopt cleaner, more sustainable mobility solutions. This step marks a positive shift in India’s EV market, supporting long-term growth and operational confidence for fleet owners.