Piaggio Bets On Alternative Fuel Tech

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Piaggio bets on alternative fuel tech

Piaggio Vehicles Pvt. Ltd. (PVPL), a unit of Italy’s Piaggio Group, is focussed on developing vehicles powered by alternative fuels such as CNG, LPG, and electrically charged batteries to achieve its target of selling 5 million vehicles in India in the coming years, its CEO said.

“We are providing emphasis on alternative fuel technology and by 2020 we will have a whole new range of products,” said Diego Graffiti, MD, and CEO, Piaggio Vehicles. “We are investing in product development and will invest several hundred crores” in the coming years.

Ravi Chopra, Chairman, Piaggio Vehicles said, “We created… and controlled the market in the last mile connectivity segment”. The company manufactures the Ape range of three-wheelers and the Porter range of four wheelers which are mostly run on diesel. In addition to vehicles powered by eco-friendly fuels, the firm is looking at a range of petrol-fuelled vehicles to help meet its sales target.

“The roll-out of the 2.5 millionth vehicle is a testimony of the trust shown by customers in the reliability of Piaggio’s products.”

“I see many new opportunities for us in the coming future as the Indian market is set to gain a more prominent role in Piaggio’s global business,” Mr. Chopra said.

The company also announced an extended warranty programme for its new customers and an accident insurance policy for small commercial vehicle drivers.

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