Pune, 08th October 2024: Piaggio Vehicles Pvt Ltd (PVPL), a 100 % subsidiary of the Italian auto giant Piaggio Group and India’s leading manufacturer of small commercial vehicles has partnered with Shriram Finance to ease 3W financing across India. An agreement was signed in the presence of Mr Amit Sagar, Executive Vice President CV Domestic Business and Retail finance, Piaggio Vehicles Pvt Ltd and Mr. G.M Gilani “Joint Managing Director” from Shriram Finance Limited.

As part of the agreement, Shriram Finance will offer tailored financing options, including exclusive deals for Piaggio customers, low down payments as well as attractive rate of interest for passenger and cargo 3Ws manufactured by Piaggio India. In an industry first move, the partnership offers easy finance to woman customers wishing to purchase Piaggio commercial vehicles, empowering them to realize their dream of being a commercial vehicle entrepreneur. Besides, the partnership also promises easy and flexible loan documentation to 3W entrepreneurs moving cities or villages who lack immediate permanent address proof other documentation. With a loan tenure of up to 4 years and downpayment as low as INR 20K-25K, Piaggio India and Shriram Finance Limited have joined hands to empower 3W commercial vehicle entrepreneurs with accessible, encouraging, and affordable 3W financing.

Speaking about the partnership, Mr. Amit Sagar, Executive Vice President CV Domestic Business and Retail finance, Piaggio Vehicles Pvt Ltd said, “This is a firm step forward towards improving the financing options for our commercial vehicle customers across the country. We understand that financing has been a challenge for the industry and we try our best to bridge that gap. With Shriram Finance we have a trusted partner with a shared vision of making small commercial vehicles financially accessible to most. I am sure this will open many avenues for our commercial vehicle customers to bring home the Piaggio Apé of their choice without any financial hassles.”

Mr. G.M Gilani, Joint Managing Director from Shriram Finance Limited said, “Piaggio’s Apé is a trusted brand of over two decades in the country and we are proud to associate with them. With our innovative and attractive financial solutions, small commercial vehicle will be even more accessible. We are committed to introducing many such offerings in the future.”

This partnership is a big step in Piaggio India’s continued efforts towards the affordability of three-wheeler mobility solutions across India.