Piaggio to roll out petrol, gas vehicles

Three-wheeler manufacturer Piaggio Vehicles Pvt Limited plans to introduce petrol and gas versions of its vehicles, said chairman and managing director Ravi Chopra.

The company is developing engines that would run on petrol and gas. Chopra, however, did not disclose the timing of the launch.

The company enjoys a 55 per cent market share in the diesel three-wheeler segment and 36 per cent in the diesel passenger vehicles.

"The market is expanding and we feel the need to be present in all the segment of the three-wheeler category," he told the media indicating a market potential of 100,000 petrol and gas three-wheelers every year.

Piaggio on Tuesday launched the extra and extra LD (Long Deck) versions of its diesel three-wheeler in Pune to address the needs of the expanding retail and services sector. The two models have been built using the same engine used for Ape.

Chopra said the company expected the new versions to do well in both rural and urban markets though the contribution to its sales coming from the rural and agriculture segment was likely to rise in future.

The models are priced between Rs 1.30 lakh and Rs 1.35 lakh.

He said the company would pitch the Ape as an "agri-vehicle" as it satisfied the diverse needs of the country's farming community.

"We intend to approach the banks and finance institutions to bring the vehicles within the ambit of microfinance to enhance their utility and affordability," he added.

The company has a manufacturing capacity of 200,000 vehicles per year at its plant in Baramati, near Pune.

The capacity is adequate as the company is currently running in two shifts, he said, adding that the third shift could be made operational as and when required.