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Updated On: 23-Oct-2025 10:24 AM
Piaggio and RiseWise Capital offer 100% financing for electric three-wheeler battery replacements, reducing costs for operators with flexible repayment options across Maharashtra, Gujarat, Karnataka, and Chhattisgarh.
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.
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.
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.
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.
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.
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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.