Piaggio to Launch Lightweight 3W Platform for EV and ICE Growth

Key Highlights

• Piaggio to develop new lightweight 3W platform for EV and ICE models.

• Focus on improving range without increasing battery size.

• Two new Apé Electrik models were launched in July 2025.

• Expanding sales network to 300 outlets by FY26.

• Exporting EVs to Africa, Sri Lanka, and exploring Indonesia.

Piaggio Vehicles Pvt Ltd, the Indian arm of Italy’s Piaggio Group, is preparing for its next big leap in the three-wheeler market. The company will invest in a new, weight-optimised three-wheeler architecture aimed at improving efficiency, reducing weight, and increasing affordability for both electric and internal combustion engine (ICE) models.

Chairman and Managing Director Diego Graffi said this project is part of Piaggio’s long-term plan to stay competitive in the evolving market.

From Powertrains to Full Vehicle Architecture

Until now, Piaggio’s focus has been mainly on improving drivelines, powertrains, and battery packs. The new phase will shift attention to the entire vehicle structure.

Graffi explained that customers now want better mileage, longer range, and lower running costs without depending on heavy, costly batteries.
Instead of simply increasing battery capacity for more range, Piaggio aims to optimise design and reduce weight so the same battery size can deliver higher performance.

Avoiding the Bigger Battery Shortcut

Graffi criticised the industry’s habit of using bigger batteries for better range, calling it expensive and unsustainable.

Piaggio’s electric three-wheelers already use 1.5–2 kWh less battery capacity than competitors for the same real-world range. This reduces initial purchase costs and lowers battery replacement expenses after five years.

Handling Rare Earth Supply Challenges

Rare earth materials are essential for EV motors but face global shortages. Piaggio has secured supply for the near term through strategic supplier partnerships and is also exploring rare-earth-free powertrain solutions for the future.

Executive Vice President Amit Sagar added that Piaggio’s long-term planning allows suppliers to maintain stocks and adapt quickly to disruptions, avoiding production delays.

Sales Goals with Profit Focus

India is now the largest market for electric three-wheelers, but Piaggio is not chasing volume at the cost of profits.

In FY25, Piaggio sold 18,457 electric three-wheelers at retail, down 26% from the previous year due to planned product cycles and a price war in the market. For FY26, the company targets sales above last year’s 22,000 wholesale units, with a strong focus on profitability.

Graffi said Piaggio avoids aggressive price cuts to maintain long-term business sustainability.

New Model Launches to Boost Sales

To attract customers, Piaggio launched two new Ape Electrik models in July 2025:

These models promise long range, strong performance, and better value for customers.

Expanding in Global Markets

Piaggio is exporting electric three-wheelers to Ethiopia, Nigeria, Kenya, and Sudan, and has started a pilot programme in Sri Lanka. Talks with Indonesia are also in progress.

Graffi noted that Kenya is more aggressive in battery swapping adoption compared to India.

Dealer Network Growth in India

Piaggio plans to expand its sales and service network from 250 to 300 touchpoints by FY26, especially in Tier-2 and Tier-3 cities where EV demand is rising.
Graffi stressed that vehicle uptime is critical for livelihood-based vehicles, making quick service access essential.

Competing in a Crowded Market

India’s electric three-wheeler segment has hundreds of players, but Piaggio stands out with:

• Strong brand trust built over decades.

• Reliable products with 80,000 electric customers logging 3.5 million km since 2019.

• Partnerships with banks and NBFCs for easy financing.

Production and Future R&D Plans

Piaggio’s current annual production capacity of 2.5 lakh units is enough for its needs, with changes only in the mix of EV and ICE production.

The company’s future R&D priorities include:

1. Improving driveline efficiency to cut energy loss.

2. Localising lithium-ion cell production with Amara Raja.

3. Developing the new lightweight vehicle architecture for both EV and ICE models.

Graffi believes these steps will help Piaggio compete strongly in India and overseas in the coming years.

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CMV360 Says

Piaggio’s investment in a lightweight, multi-fuel three-wheeler platform marks a strategic shift toward efficiency, cost-effectiveness, and sustainability. By avoiding unsustainable price wars, focusing on design innovation, and expanding its market reach, Piaggio is positioning itself for long-term success in both India’s growing EV segment and global markets.