Three Wheels To Buy 3300 Electric 3-Wheelers From Piaggio Vehicles

Bengaluru based EV financing fintech - Three Wheels United (TWU) - has signed an MoU with Piaggio Vehicles (PVPL) for the procurement of 3300 electric 3-wheelers to be deployed over the next 18 months across Delhi NCR, Uttar Pradesh, Karnataka, Kerala, Telangana, Maharashtra and Andhra Pradesh.

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The official statement of Three Wheels United held that under the partnership, it will facilitate easy and affordable financing for individuals as well as for fleet operators to easily switch from conventional engines to EV three wheelers. Drivers will be provided affordable loans covering up to 100% of the cost of the vehicle without any collateral.

Moreover, the driver app of Three Wheels United will offer constant support to drivers by providing details on the locations of charging stations, parking options and vehicle maintenance. It will also provide a buyback option that allows drivers to sell their existing pollutive vehicles that are older than ten years and purchase Piaggio’s Ape Electrik EVs.

The company said that drivers can make a down payment of Rs 29,999 and take home a new vehicle. PVPL will offer the required support for the maintenance and speedy servicing of the vehicles, ensuring minimal downtime for operations. The vehicle owners will have dedicated service support from Piaggio dealers and from the operations team of Three Wheels United.

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The New Vehicle On Offer

The statement mentioned that Apé FX Max range comes with advanced battery performance resulting in a longer run, enhanced earnings, and effective cost of ownership. The vehicles also have a reserve range of up to 5 kms, to combat range anxiety. Bigger tyres of 12” give drivers a better ride & handling experience, and control over rough, uneven road conditions making the journey safer as well as accessible to remote destinations. Thisnis also the same model that has been rolled out in Delhi as a three wheeler option for electric.

The Partnership

Cedrick Tandong, CEO and Co-Founder, Three Wheels United, stated, “Currently, there are over 13 lakh EVs registered in the country. A lot needs to be done in order to achieve mass adoption of EVs in India. We need an ecosystem approach to remove the barriers to easy adoption. Collaboration among vehicle manufacturers, financiers, and charging infrastructure providers can pave the way for mass adoption of EVs in India.”