INDIA REPORT
Piaggio, which sells electric scooters in Europe, is developing products specifically for India but it will take 18-24 months to enter the market. It will focus on scooters and not launch electric motorcycles.
The large automaker has 2024 in its sights as a realistic go-to-market timeline for the new scooter.
“We are interested in providing customers with a solution in the two-wheeler space that (makes sense) even beyond the effect of subsidies. It is a matter of fact that the players that have entered recently in this space are gaining volumes on the base of subsidies,” says Diego Graffi, MD & CEO Piaggio India
PSR Analysis: Both the Central government and many state governments are bullish on the transition from petrol-powered two-wheelers to emission-free products and there’s plenty available in the form of EV buyer subsidies. The e-two-wheeler market in India is now buzzing with start-ups, new players and major OEMs like Bajaj Auto, TVS Motor Co and the soon-to-enter Hero MotoCorp. However, there does not seem be a major consensus on a consortium or about voluntary standardization of tech.
While Piaggio has introduced the Vespa Elettrica and recently showcased the Piaggio One modular platform for the global market, the products are not likely to be introduced in India. PSR
Aditya Kondejkar is Research Analyst – South Asia Operations, for Power Systems Research
