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.
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 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 km, to combat range anxiety.
Bigger tires of 12” give drivers a better ride & handling experience, and control over rough, uneven road conditions making the journey safer as well as access 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, 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 vehicles Apé E-City FX Max and Apé E-Xtra FX Max have received an 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, of Three Wheels United, said, “Currently, there are over 13 lahks EVs registered in the country. A lot needs to be done 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.