Three Wheels United Enters Into An Agreement with Piaggio Vehicles Pvt. Ltd. to Procure 3300 Electric 3-Wheelers

Piaggio and TWU MoU Signing

Three Wheels United (TWU), a global fintech company for EV financing, has signed a Memorandum of Understanding (MoU) with Piaggio Vehicles Pvt. Ltd. (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.

Under this partnership, Three Wheels United 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. Furthermore, Three Wheels United's driver app, which provides details on the locations of charging stations, parking options, and vehicle maintenance, will offer constant support to drivers. Additionally, TWU will 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. 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.

The new 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. To provide better visibility and control while driving, the vehicle’s seat height has also been adjusted. Advanced telematics 2.0 gives drivers better navigation and allows fleet owners to track and manage the fleet with utmost efficiency.

Speaking on the tie-up, Mr. Diego Graffi, Chairman & MD, Piaggio Vehicles Pvt. Ltd. said, “Piaggio is known for its path-breaking solutions in last-mile connectivity. Our recently launched passenger vehicle Apé E-City FX Max and Apé E-Xtra FX Max have received overwhelming response especially from last-mile delivery partners. The MoU with Three Wheels United will further strengthen our commitment to building India’s EV infrastructure with competent and reliable partners. We are sure of a successful collaboration that will significantly benefit customers.”

Commenting on the partnership, Cedrick Tandong, CEO and Co-Founder, Three Wheels United, said, “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.”

“PVPL and Three Wheels United have a shared vision of promoting the adoption of sustainable e-mobility. We are pleased to partner with PVPL and we believe that this partnership will further strengthen our commitment to reducing the environmental impact of the transportation sector in India.” Cedrick added. 

About Three Wheels United (TWU)

Three Wheels United is a global fintech company that has developed a disruptive platform to finance light electric vehicles. The company leverages technology to provide the most comprehensive, affordable loans, and rent-to-own options to India’s micro entrepreneurs to help them easily switch to EV two and three-wheelers. TWU employs behaviour-informed proprietary technology to increase the accuracy of credit risk assessment and loan repayment rates, expanding access to financial products to populations that would be otherwise excluded from vehicle financing.

About Piaggio Vehicles Pvt. Ltd. (PVPL)

Piaggio Vehicles Pvt. Ltd. is a 100% owned subsidiary of the Piaggio Group. The Company commenced operations in India in 1999 with the launch of the three-wheeler brand Apé, which was an immediate success and has grown from strength to strength over the years. PVPL created the market, grew it, and has sustained a dominant position in the Diesel and Alternate fuel 3-wheeler segments. Piaggio is a leading player in the light transportation industry with a complete range of three-wheelers in Diesel, Petrol, CNG, LPG fuel variants & has also entered the Electric vehicle market. The Company’s products are not only endorsed by over 3.0 million satisfied customers across India but also exported to more than 50 countries worldwide. Piaggio has a state-of-the-art manufacturing plant at Baramati in Maharashtra, with an installed annual production capacity of over 3,80,000 commercial vehicles & 1,50,000 two-wheelers. It is also self-reliant in some of the engine categories with its advanced engines plant with a capacity of 2,00,000 engines. Piaggio has an over 4000-strong workforce comprising experienced engineers, R&D specialists, plant workers, sales, service and marketing professionals.

For more information, please visit: http://piaggio-cv.co.in/

Tech-enabled LEV Financer Three Wheels United Partners With Piaggio Vehicles to Promote the Adoption of Electric 3-Wheelers in India

Three Wheels United (TWU), a Bengaluru-based tech-enabled financier of light electric vehicles, has partnered with Piaggio Vehicles to accelerate the adoption of Electric Three-wheelers in India. Under this partnership, Three Wheels United will immediately deploy 500 Piaggio Ape’ E City and Ape’ E-Xtra vehicles across India.

Three Wheels United, and Piaggio will jointly work towards promoting the adoption of Piaggio’s Ape’ E City and Ape’ E-Xtra. Three Wheels United will facilitate 3-Wheeler passenger vehicle and cargo vehicle drivers to switch from old vehicles with emissions to electric vehicles with almost zero emissions. Additionally, TWU will connect these drivers to aggregator platforms. Piaggio will offer the required support for maintenance and servicing of the vehicles, ensuring minimal downtime for operations. With this partnership, auto-rickshaw drivers not only receive support to switch from driving old pollutive vehicles to electric vehicles, but they will also get all the required support from TWU and Piaggio to operate these vehicles hassle-free and increase their earnings.

Commenting on the partnership, Cedrick Tandong, CEO and Co-Founder, Three Wheels United, said “We continue to expand our partnership with large electric vehicle manufacturers in a bid to make it easier for auto rickshaw drivers to switch to sustainable last-mile transportation. I am very excited to associate with Piaggio to drive the adoption of Ape’ E-city and Ape’ E-Xtra. Through our support, drivers can now easily shift to economical, highly profitable, and less pollutive vehicles''

Speaking on the tie-up, Mr. Diego Graffi, Chairman & MD Piaggio Vehicles Pvt. Ltd. said, “Piaggio has been known for its path-breaking solutions in last-mile connectivity. Our recently launched passenger vehicle Ape’ E City and cargo variant Ape’ E-Xtra have received tremendous response from our customers. Through this partnership with Three Wheels United, we will further amplify our efforts towards creating eco-friendly last-mile connectivity."

Ape’ E-City offers a revolutionary driving experience with zero-emission with nearly no noise and vibration making it a next-generation last-mile mobility solution for urban India. It comes with various class-leading features making it a unique proposition with advanced Li-ion batteries, automatic gearbox, superior power and torque, no gear and clutch, doors for safety, full digital cluster.

The new Ape’ E-Xtra FX is the most powerful electric cargo in the segment with a 9.5 KW power output. It comes with a proven full metal body architecture fitted with a useful 6 ft cargo deck length. It is also customizable for applications like the delivery van, garbage collector, etc.

Both the products come equipped with top-of-the-range features like blue vision headlamps, automatic transmission, hill hold assist, regenerative braking, dual-tone seats, striking body colors and graphics, multi-information instrument cluster, boost mode, etc. The FX fixed battery range offers convenient home and office charging features.

Piaggio is offering unique service solutions to ensure confidence and peace of mind to its electric customers. The vehicles are covered with a 3 year/1 lakh kilometre “Super warranty”. In addition to this, they offer a 3 Year Free Maintenance package as an introductory offer to all their customers. The Piaggio I-Connect telematics solution offers real-time vehicle data tracking for the customers and for PVPL service initiatives.

Three Wheels United is a Bangalore-based fintech company. TWU is a unique, tech-enhanced and innovative company that finances light electric vehicles, seeking to make electric vehicles accessible and support India’s vehicle fleet transition to electric. They employ behaviour-informed, proprietary technology to increase the accuracy of credit risk assessment and loan repayment rates, expanding access to financial products to populations that would be otherwise excluded from the vehicle financing. They have specialized in sustainable mobility in India for more than a decade, through which they have developed unparalleled knowledge of the driver experience and a unique first-mover advantage that has informed their hybrid model through which they combine human-centric UI/UX technology and traditional in-person microfinance management concepts to tailor the system to the needs of the drivers.

Founded by Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra in 2017, Three Wheels United provides loans for drivers to make a switch from conventional rickshaws to electric rickshaws. Till date, Three Wheels United has worked with over 30,000 drivers offering them various products and services, financed 3500+ auto-rickshaws resulting in a reduction of 150,500 tonnes of CO2 emissions, and the generation of an extra $62M in income for the drivers.

Piaggio Vehicles Pvt. Ltd. is a 100% owned subsidiary of the Piaggio Group. The Company commenced operations in India in 1999 with the launch of the three-wheeler brand Apé, which was an immediate success and has grown from strength to strength over the years. PVPL created the market, grew it, and has sustained a dominant position in the Diesel 3-wheeler segment. Piaggio is a leading player in the light transportation industry with a complete range of three-wheelers in Diesel, Petrol, CNG, LPG & Electric variants. 

The Company’s products are not only endorsed by approximately 3 million satisfied customers across India but also exported to more than 40 countries. Piaggio has a state-of-the-art manufacturing plant at Baramati in Maharashtra, with an installed annual production capacity of over 300,000 three-wheelers, 1,50,000 Two-wheelers. It is also self-reliant in some of the engine categories with its advanced engines plant with a production capacity of 1,50,000 Engines annually. Piaggio has an over 3000-strong workforce comprising experienced engineers, R&D specialists, plant workers, sales, service, and marketing professionals.