The collaboration introduces 100% financing for battery replacement after 3–4 years, easing ownership costs for fleet operators. Piaggio Vehicles Pvt Ltd (PVPL), a 100% subsidiary of the Piaggio Group, has joined hands with fintech firm RiseWise Capital to launch a unique battery replacement financing programme for electric three-wheeler (3W) customers in India.

The initiative allows Piaggio EV owners to replace worn-out batteries after three to four years of use through 100% financing, available across Maharashtra, Gujarat, Chhattisgarh, and Karnataka. With plans to expand nationwide, the programme aims to remove one of the biggest barriers in electric fleet ownership, the high cost of battery replacement.

Customers can avail loans through authorised Piaggio 3W dealers, with flexible repayment options of up to 24 months and interest rates starting at 10.99%. The vehicle itself serves as collateral, ensuring ease of access for small business owners and fleet operators.

“At Piaggio, we continue to pioneer in the electric mobility space with a focus on customer-centric innovation,” said Diego Graffi, Chairman and Managing Director, Piaggio Vehicles Pvt Ltd. “This first-of-its-kind battery replacement financing underscores our commitment to making EV ownership simpler, more reliable, and financially viable.”

According to Tejal Bhartiya, MD & CEO, RiseWise Capital, the partnership offers peace of mind by removing upfront replacement costs while maintaining continuous uptime for Piaggio’s 3W EVs.

With this move, Piaggio is not only making EV ownership more affordable but also ensuring smoother business continuity for India’s last-mile transport operators.