RiseWise Capital, a financial solutions provider for eco-friendly projects, has partnered with Piaggio Vehicles Pvt. Ltd., a subsidiary of the renowned Piaggio Group from Italy. This collaboration marks a significant leap forward for India’s electric vehicle (EV) ecosystem, specifically targeting the financing of electric three-wheelers (EV 3Ws).
Overview of the Collaboration
The partnership aims to offer innovative financing solutions for fully battery-operated electric three-wheelers, making EV ownership more accessible across India. This initiative is aligned with India’s ambitious goals of achieving net-zero emissions by 2070 and promoting electric mobility, particularly for passenger and last-mile transportation.
Key Features of the Piaggio–RiseWise Partnership
- 100% Battery Financing
- Coverage: The financing scheme covers the entire battery cost for Piaggio’s electric three-wheelers, which typically constitutes 35%–45% of an EV’s total cost.
- Target Audience: Individual drivers, fleet operators, delivery aggregators, and small businesses can benefit from this offering.
- Minimal Down Payment
- Affordability: The partnership offers low or zero down payment options, reducing the initial financial burden for buyers.
- Flexible Repayment Options
- Customization: Customers can choose loan tenure and EMI amounts according to their convenience, allowing for manageable monthly payments.
- Why This Partnership Is Important
- Affordable Access to Electric Mobility
The high upfront cost of electric three-wheelers has been a major obstacle for many Indian buyers. By separating the cost of the battery and allowing for its financing, Piaggio and RiseWise make EVs more affordable for individuals and small fleet owners.
Boost to Corporate EV Market
The electric 3W sector is the fastest-growing EV segment in India, accounting for over 55% of EV sales in FY2025. Piaggio’s battery financing solution is especially attractive for logistics and e-commerce companies seeking sustainable delivery options, potentially accelerating the shift from internal combustion engine (ICE) vehicles to EVs.
Supporting Government’s Environmental Goals
This partnership aligns with government initiatives like PM eBus Sewa and FAME-II, which encourage electric vehicle adoption and aim to reduce vehicle emissions. The initiative supports the targets set by the National Electric Mobility Mission Plan (NEMMP) for 2020–2030.
Piaggio Ape Electrik Series: Innovation in Action
- Advanced Lithium-Ion Batteries: Fast charging capability.
- Range: Up to 120 km per charge.
- Charging Time: 3.5 to 4 hours.
- Payload Capacity: 500–550 kg.
- Smart Digital Dashboard: Real-time battery and range display.
Piaggio also provides tailored finance options across its vehicle range, ensuring reliability and affordability.
RiseWise Capital: Championing Green Financing
RiseWise Capital specializes in financing for sustainable projects, including EVs, renewable energy, and green infrastructure. Their collaboration with Piaggio leverages data-driven risk models and strong industry relationships to expand access to green financing, especially for first-time EV buyers.
How the Financing Process Works
- Choose Your Vehicle: Select from the Piaggio Ape Electrik range (passenger or cargo models).
- Loan Application: RiseWise Capital assesses your credit profile and business requirements.
- Split Payment Scheme: Finance the vehicle chassis and battery separately.
- Customizable EMIs: Decide your monthly payment and loan tenure.
- Ownership Benefits: Once the loan is repaid, full ownership transfers to the buyer.
This approach is particularly beneficial for small fleet operators, reducing initial investment and operational risk.
The Bigger Picture: Enabling Battery-as-a-Service (BaaS) Models
Battery financing is a foundational step toward Battery-as-a-Service (BaaS) models, where users pay for battery usage rather than ownership. This future-ready model could pave the way for battery swapping and pay-per-use energy solutions.
Market Impact and Outlook
- Projected Growth: Annual EV 3W sales in India are expected to grow by 25–30%, driven by increased affordability and financing options.
- Ecosystem Benefits: The partnership supports battery manufacturers, fintech innovation, automotive dealers, and distribution networks.
- Industry Leaders’ Perspectives
- Diego Graffi, CEO & MD, Piaggio Vehicles Pvt. Ltd.:
Piaggio empowers small business owners by introducing innovative payment solutions. Our collaboration with RiseWise Capital democratizes access to electric mobility.
RiseWise Capital Representative:
We are delighted to join hands with Piaggio in making sustainable and affordable transportation a reality. Our focus remains on simplifying EV ownership for all
Conclusion: Financing the Future of Electric Mobility
The Piaggio–RiseWise Capital partnership represents a pivotal advancement in making electric vehicles more accessible and affordable in India. By enabling 100% battery financing and flexible payment options, the collaboration not only benefits small businesses but also accelerates the country’s transition to clean and sustainable transportation.
FAQs
100% battery financing for electric three-wheelers, reducing upfront EV purchase costs.
Fleet owners, logistics companies, delivery drivers, and buyers of Piaggio Ape Electrik models.
Flexible EMIs, minimal down payment, and quick loan approval.
It makes EVs more affordable, supporting the country’s environmental and mobility goals.
Currently, Piaggio Ape Electrik 3-wheelers, with expansion to other models planned.