Piaggio maintains lead in India’s fast-growing electric cargo 3-wheeler market

In line with Autocar Professional’s recent sales analysis of the electric three-wheeler market for first-half FY2022, which had it that Piaggio Vehicles is the leader in the cargo segment,  the company has today confirmed that it continues to maintain its No. 1 status at the end of November 2021. Specific sales data though has not been released.

On February 23, 2021, Piaggio launched its FX range of EVs in both the cargo and passenger segments. The company has issued a statement today that it “has now gained  55% of the cargo electric three-wheeler market."

Piaggio is seeing robust demand for its Ape E-Xtra FX electric cargo three-wheeler which develops 9.5 Kw power. It comes with a proven full metal body architecture fitted with a useful 6-feet-long cargo deck length. It is also customizable for applications delivery van for the e-commerce segment and garbage collection for municipal applications. Piaggio has also developed some institutional and government applications with the EV garbage tipper for Swachh Bharat application.

According to Diego Graffi, Chairman and MD, Piaggio Vehicles, “We at Piaggio firmly believe that India is seamlessly moving towards green mobility spearheaded by EVs. This is attributed to policies like FAME-II and the PLI scheme along with subsidies provided by the government that adds benefit to the end customers. Piaggio in India is proud to showcase its leadership in the electric three-wheeler cargo segment with a market share of 55%. We further remain committed to delivering best-in-class products for our customers that enable the aim of achieving green mobility for a greener future.”

Piaggio says it is the preferred choice amongst top fleet operators in the country like MoEVing, Amplus and City Link for providing cost-effective and eco-friendly last-mile transportation. Further, to provide end-to-end green mobility solutions, Piaggio has also forged strategic collaborations with partners such as Sun Mobility and Reliance BP Mobility (JioBP) for providing complete electric mobility solutions and infrastructure in the country.

What’s helping accelerate growth in the electric three-wheeler market is the high prices of petrol and diesel (even after the  recent excise duty cut) as well as the massive demand for last-mile delivery across the country from the booming e-commerce industry. And for three-wheeler operators, the road to personal growth is the low total cost of ownership (TCO) that electric three-wheelers offer.