Piaggio to bring e-three-wheeler by third quarter
Sun Mobility is headed by Chetan Maini, who had founded Reva Electric Car Company, which was later acquired by Mahindra & Mahindra.
PUNE: Piaggio Vehicles, the Indian arm of the Italian auto major Piaggio group, will invest Rs 200-300 crore over the next three years on product and technology development, including the launch of a fully electric three-wheeler in the December quarter.
The second largest three-wheeler maker in the country, Piaggio will start pilot production of the electric three-wheeler, powered by a 4.5 kw motor, in September this year.
"We will price the electric three-wheeler on par with the on-road price of the CNG three-wheeler which will be about Rs 1.45 to Rs 1.95 lakh," Diego Graffi, CEO and Managing Director at Piaggio Vehicles, said.
This, he said is because the cost of the battery is not involved as we will be offering swapable battery service in association with Sun Mobility.
Swapable battery means the owner can either charge the battery when needed, or go to a service centre and swap the present battery with a fully charged one.
Sun Mobility is headed by Chetan Maini, who had founded Reva Electric Car Company, which was later acquired by Mahindra & Mahindra.
Graffi said that Piaggio's electric three-wheeler will have a range of 80-100 km. While Mahindra was the first to launch electric three-wheelers powered by a lithium-ion battery pack, Bajaj Auto and TVS will follow suit later this year.
The cheapest Mahindra electric three-wheeler Treo is priced at Rs 1.36 lakh having a certified range of 170 km.