Piaggio Projects 50% Electric 3-Wheeler Market Share in India by 2028

By Amit Jangra | Published Date : August 05, 2025

targets 50% electric 3-wheeler market in India by 2028, driven by strong demand and changing

India’s electric vehicle journey is moving faster than ever, especially in the 3-wheeler space. One of the major players, Piaggio Vehicles Pvt Ltd (PVPL), has shared a bold and exciting prediction. The company believes that by 2028, electric 3-wheelers could make up half of the total L5 market in India.

This change is more than just numbers. It shows a bigger shift in how people and businesses see transport in the country. Piaggio, the Indian arm of the Italian Piaggio Group, says that the growth in electric loading autos and passenger autos is not only because of government support. It’s happening because of real demand and smart choices by customers.

Electric 3-Wheelers Growing Even Without Big Subsidies

Table of Contents

1. Electric 3-Wheelers Growing Even Without Big Subsidies

2. The Big Picture: How the Market Looks Today

3. What’s Driving  the Growth?

4. New Launches from Piaggio

5. What Piaggio Wants from the Government

6. Final Thoughts

Also Read: Piaggio has Launched New Apé E-City Ultra and FX Maxx Electric 3-wheeler in India

Over the last 18 months, the Indian government has reduced support under the FAME scheme. In fact, the incentives are now just one-fourth of what they were earlier. Even then, the electric Piaggio 3 wheelers are gaining popularity.

Diego Graffy says EV sales are picking up fast. People aren’t just chasing subsidies anymore, they are seeing long-term value and making the switch for practical reasons.

The market is changing for good and the shift is here to stay.

The Big Picture: How the Market Looks Today

India’s electric 3-wheeler market is mainly made up of two types:

→ L5 models – used for carrying passengers and cargo
→ L3 models – smaller e-carts for light use

In FY25, L5 electric passenger autos made up 22.8% of all sales in their category. L5 electric loading autos were close behind at 21.5%. By the first quarter of FY26, these numbers had jumped to 32.4% and 22.8%, respectively.

These figures show clear and strong growth. While some regions like the South and West are still catching up, Piaggio expects them to grow fast. This will help the country hit the 50% electric market share goal by mid-2028.

What’s Driving the Growth?

Several factors are helping electric Piaggio 3 wheelers become more popular:

→ Better access to charging stations
→ Lower prices of EV models
→ Easy finance and EMI options
→ Strong after-sales service

Piaggio did not wait around. Since 2019, they’ve refreshed their electric 3-wheelers every couple of years clearly trying to keep up with what customers actually want.

New Launches from Piaggio

To meet the rising demand, Piaggio has introduced two new electric vehicles:

→ Ape E-City Ultra – ₹3.80 lakh
→ Ape FX Maxx – ₹3.30 lakh

These new models offer high performance, long battery life and very low running costs. Whether for city rides or small-town use, they’re made to handle all kinds of road conditions.

These electric passenger autos and electric loading autos are built to give a smooth and cost-effective ride, making them ideal for everyday transport needs.

What Piaggio Wants from the Government

While Piaggio feels good about where things are going, Graffy did point out one concern, unclear policies. He says if the government plans to stop subsidies, companies just need to know early. That way, they’re not left guessing. A stable policy, even without incentives, would really help firms like Piaggio plan ahead and keep improving what they offer.

Final Thoughts

It really looks like electric 3-wheelers have a solid future in India. The demand’s growing, the vehicles are getting better and both buyers and companies seem more serious about going electric. Piaggio, in particular, is pushing ahead with solid options that people actually want. Their goal of hitting 50% electric by 2028? Honestly, it doesn’t seem that far off anymore. If the trend keeps going like this, India might end up leading the global EV shift—at least in the 3-wheeler space. Whether it’s a city ride in a passenger auto or hauling goods in a loading auto, electric just makes sense now.

Read More: Zuperia Auto enters EV three-wheeler Segment, Plans 2W Launch Soon

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Frequently Asked Questions on 3-wheelers

1. What is Piaggio’s electric 3-wheeler market goal for India by 2028?

Ans: Piaggio aims for electric 3-wheelers to make up 50% of the L5 segment market in India by 2028.

2. Why are electric 3-wheelers gaining popularity in India?

Ans: Better charging infrastructure, lower costs, easy financing and environmental benefits are driving the shift to electric 3-wheelers.

3. How has government policy impacted the electric 3-wheeler market?

Ans: Despite reduced subsidies under the FAME scheme, electric 3-wheeler sales continue growing due to increasing consumer interest and market demand.

4. What new electric 3-wheeler models has Piaggio launched recently?

Ans: Piaggio recently introduced the Ape E-City Ultra and Ape FX Maxx, focusing on performance, battery life and affordability.

5. Which regions in India are expected to see the fastest growth in electric 3-wheelers?

Ans: Southern and western India currently have lower adoption rates but are expected to grow quickly, helping India reach its 50% electric target.