Bp : and Piaggio Group join up to accelerate the two- and three-wheeled ‎electric mobility revolution 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 infrastructure‎management 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.‎

Richard Bartlett, bp's senior vice president, future mobility & solutions, said: "The huge and fast-‎growing two- and three-wheeler market is already leading the way for electrification, and we see ‎great potential for continued growth across both Asia and Europe.

‎"Working closely with Piaggio Group - a world leader in this market - we will aim to develop and ‎deliver the innovative services that customers will need. This will support the growth of rapid and ‎truly convenient urban mobility using zero tailpipe emission vehicles, enabling reductions in air ‎pollution and helping cities in their efforts to decarbonize."

Richard Bartlett, senior vice president, future mobility & solutions, bp

‎"Working closely with Piaggio Group - a world leader in this market - we will aim to develop and ‎deliver the innovative services that customers will need. This will support the growth of rapid and ‎truly convenient urban mobility using zero tailpipe emission vehicles, enabling reductions in air ‎pollution and helping cities in their efforts to decarbonize."

‎"Working together with bp will help us deliver our idea and offer of a mobility revolution," said ‎Michele Colaninno, chief of strategy and product of the Piaggio Group. "To achieve this goal, it is ‎necessary to promote the widespread adoption of electric vehicles such as motorbikes, motor ‎scooters and compact commercial vehicles equipped with battery swap technology or plug-in ‎charging, thus encouraging a more sustainablelife-cycle management of batteries and greater ‎respect for the environment. Working with bp is an incredible starting point to enhance our ‎strategy."‎

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.

Convenience and mobility is a core part of bp's strategy. Working closely with innovative partners, ‎bp seeks to develop new business models and services that will help deliver the future of mobility, ‎energy and services for customers. Electrification is at the heart of bp's approach to mobility and it ‎is growing its charging businesses around the world, aiming to have over 70,000 public charge ‎points by 2030.

^‎1BloombergNEF, Electric Vehicle Outlook 2021, p2‎

^‎2 BloombergNEF, Electric Vehicle Outlook 2021, Economic Transition Scenario, p6‎