Piaggio Vehicles Pvt. Ltd. (PVPL), the Indian arm of Italy’s iconic Piaggio Group, has teamed up with fintech innovator RiseWise Capital to solve one of the biggest jolts in electric three-wheeler ownership — the dreaded battery replacement bill. Together, they’re introducing a first-of-its-kind battery replacement financing program, turning a major expense into an easy EMI affair and keeping India’s buzzing e-rickshaw fleets running without a financial short circuit.
Under this exclusive collaboration, customers across Maharashtra, Gujarat, Chhattisgarh, and Karnataka can now avail 100% financing on battery replacements after 3–4 years of use — just when the old pack is ready to retire. The initiative aims to make electric mobility more sustainable, predictable, and profitable for fleet owners, with expansion plans to light up the rest of India soon.
⚡ Powering Peace of Mind
Let’s face it: replacing an EV battery can sting harder than a traffic fine in South Mumbai. But Piaggio and RiseWise Capital’s new program ensures that when your battery takes its final charge, your business doesn’t.
Owners can finance the entire cost of the new battery through authorised Piaggio dealerships, repayable over 24 months at rates starting from 10.99%, using their existing vehicle as collateral. Throw in flexible repayment options — ECS, NACH, or UPI AutoPay — and even the most tech-shy driver will find it a smooth ride.
💬 Leaders Speak — with Voltage
“At Piaggio, we continue to pioneer in the electric mobility space with customer-centric innovation,” said Diego Graffi, Chairman & MD, Piaggio Vehicles Pvt. Ltd.
“This battery replacement financing offering underscores our commitment to making EV ownership simpler and more financially viable. By partnering exclusively with RiseWise Capital, we’re enabling commercial EV operators to sustain their operations without worrying about battery replacement costs,” he added, probably charging up his own phone to match the enthusiasm.
Meanwhile, Tejal Bhartiya, MD & CEO of RiseWise Capital, added,
“This partnership ensures affordable, hassle-free replacements while maintaining continuous uptime of Piaggio’s EVs.”
And Sham Jagtap, Executive Director, RiseWise Capital, didn’t hold back either:
“Piaggio’s EV credibility and our financial flexibility make this partnership a power move for India’s sustainable mobility future.”
🔋 Key Features That Keep the Wheels Turning:
- 100% financing of battery invoice value after 3–4 years of vehicle use.
- Flexible 24-month repayment schedule with interest starting at 10.99%.
- Battery replacement insurance mandatory — for peace of mind and road safety.
- Existing vehicle used as collateral — because why let a perfectly good 3W sit idle?
- Convenient repayment options via ECS, NACH, or UPI AutoPay — no excuses for missed EMIs.
🚙 The Bigger Picture
Beyond easing costs, the initiative strengthens Piaggio’s long-term vision of ensuring its customers — from last-mile delivery drivers to e-auto operators — can keep earning without downtime. RiseWise Capital’s mobility-focused financing expertise ensures that as batteries fade, businesses don’t.
So, while others worry about “range anxiety,” Piaggio owners can now sip chai calmly knowing their next battery is just an EMI away.
