bp in JV to accelerate electric mobility across Europe, India and Asia
bp and Piaggio Group plan to work together to develop and roll out a comprehensive set of services for the rapidly growing number of two- and three-wheeled electric vehicles across Europe and Asia.
These vehicles – electric motorbikes, motor scooters and compact commercial vehicles – are today the most highly electrified vehicle class globally, with 44% of sales and 25% of the existing global fleet – or around 250 million vehicles – already electric1. It has been estimated that by 2040 the proportion of sales of these vehicles that are electric may have risen to over 80% and the number of electric two- and three-wheelers globally may have tripled to 750 million2.
Bringing together Piaggio’s extensive e-vehicle production operations and infrastructure management capabilities with bp’s expertise and global reach, the companies aim to support the growing adoption of electric two- and three-wheelers globally to help address city congestion and reduce pollution in urban areas.
Under their memorandum of understanding, Piaggio Group and bp, along with affiliate Jio-bp in India, will explore opportunities to work together to offer charging and battery swap stations, as well as developing all-encompassing services such as ‘Battery as a Service’ (BaaS) – leasing, management and recycling of vehicle batteries – and ‘Vehicle as a Service’ (VaaS) – leasing, repair, maintenance and smart energy management of these vehicles. Initial efforts and focus will be on India, where Jio-bp and Piaggio are already engaged in developing electric vehicle solutions. The companies also intend to explore opportunities in broader Asia – in China, Indonesia, and Vietnam – and in Europe.
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