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Piaggio

Piaggio & C. S.p.A. is an specializing in the design, manufacture, and distribution of two-wheeled motor vehicles, light commercial vehicles, and for urban mobility. Founded in 1884 by Rinaldo Piaggio in , , the company initially focused on railway and maritime equipment before expanding into and post-World War II motor vehicles, becoming renowned for its iconic scooter introduced in 1946. Today, Piaggio Group operates as Europe's largest producer of scooters and motorcycles, with a global presence through subsidiaries, factories, and over 1,000 retail outlets across , the , , the , and . The company's portfolio includes premium brands such as Vespa, Aprilia, Moto Guzzi, and Piaggio for two-wheelers ranging from 50cc mopeds to 1,400cc motorcycles, with over 19 million units sold worldwide since its debut. In the commercial vehicle segment, Piaggio produces agile, eco-friendly models like the Ape —launched in 1948 and pivotal in —and the Porter series for . Innovations in sustainable mobility include the world's first hybrid scooter in 2009, the electric Vespa Elettrica in 2018, and the Piaggio 1 electric scooter in 2021, reflecting a commitment to electrification and advanced rider assistance systems. Piaggio's evolution includes key acquisitions, such as Gilera in 1969 and Aprilia and Moto Guzzi in 2004, which broadened its motorcycle offerings, and the establishment of Piaggio Fast Forward in 2015 for robotics like the gita® cargo robot. Listed on the Stock Exchange since 2006 under the control of Immsi S.p.A., the group emphasizes flexible organization, stakeholder returns, and human resource development to drive future mobility solutions.

History

Founding and Early Developments

Piaggio was founded in 1884 by Rinaldo Piaggio in Sestri Ponente, a district of , , where he transformed his father's small woodworking shop into an engineering firm specializing in metalworking and luxury ship fittings. Initially focused on producing high-quality furnishings and components for maritime vessels, the company quickly established a reputation for precision craftsmanship, securing a near-monopoly in ship outfitting along Italy's northwest coast within about 15 years. By the early , Piaggio expanded into railway carriage construction and repairs, opening a new factory in in 1906 to manufacture railcars, trucks, trams, and even luxury automobiles. This period marked the company's shift toward broader industrial applications, leveraging its metalworking expertise. In 1915, amid growing demand during , Piaggio entered the aeronautical sector by repairing seaplanes, and by 1917, it had begun producing propellers and fuselages for seaplanes, acquiring the Pegna-Bonmartini business and a facility in to support these efforts. A pivotal milestone came in 1924 when Piaggio acquired the Costruzione Meccaniche Nazionali facility in , , repurposing it as the center for aeronautical engine production. The following year, in 1925, the company achieved a significant breakthrough by manufacturing Italy's first indigenous at this site, enhancing its role in the burgeoning aviation industry. During the and , Piaggio began diversifying beyond into motorized ground vehicles, developing early motorcycles and three-wheeled utility models to meet emerging demands for affordable transport. This initial foray laid the groundwork for the company's future emphasis on innovative mobility solutions, though its primary focus remained on components until the pressures of global conflict prompted further adaptations.

World Wars and Vespa Creation

During , Piaggio significantly contributed to Italy's military efforts by repurposing its factories for wartime production. Starting in , the company began repairing and constructing seaplanes, and by , it acquired a Pisa-based firm to expand its capabilities. The facility focused on manufacturing anti-submarine motorboats, which were equipped to deploy torpedoes, while the Sestri Ponente plant handled the repair of warplanes; both sites shifted to mass-producing aircraft by the war's end. Additionally, Piaggio obtained a to produce the et engine, supporting aeronautical needs. In the , Piaggio concentrated on advancing its aeronautical division, producing engines and airframes amid Italy's evolving sector. In 1923, it developed the P.2 fighter. The company acquired the factory in 1924, equipping it for engine and vehicle manufacturing. By 1928, the site featured a for testing flying boats, enabling production of advanced seaplanes, bombers, and related components. This era also saw the hiring of key engineers, including Corradino D'Ascanio in , who worked on early prototypes like the PD.1 and PD.2. World War II saw Piaggio deeply involved in supporting the through aircraft manufacturing. The company produced engines, bombers such as the P.108, and other aviation parts at facilities including , which became a key production hub. However, the war brought severe disruptions, with the factory subjected to repeated Allied bombings, including a major raid on August 31, 1943, that caused extensive damage, and further strikes in February 1944 targeting the Piaggio aircraft works. German forces also mined the site before retreating, exacerbating destruction; production halted under Allied occupation following Italy's 1943 armistice. Post-war reconstruction prompted Piaggio's pivot to civilian mobility, culminating in the invention of the scooter in 1946. , seeking an affordable transport solution for Italy's recovering economy, commissioned aeronautical engineer Corradino D'Ascanio to redesign an earlier wartime scooter prototype (the MP.6). D'Ascanio's innovative design featured a practical, enclosed body with a spare wheel stored at the front for easy replacement, a inspired by undercarriages, and a pressed construction for simplicity and cost-efficiency. The resulting —named for its wasp-like shape and buzzing engine sound—entered production as the Vespa 98, with initial output reaching approximately 2,500 units in 1946 and surpassing 10,000 by 1948, marking a rapid shift from military to consumer goods.

Post-War Growth and Acquisitions

Following the launch of the Vespa in 1946, Piaggio experienced rapid commercialization and sales growth, with production surpassing 100,000 units by 1950 as demand surged in Italy and . In 1948, the company also introduced the three-wheeler, designed by D'Ascanio, which became essential for small-scale transport and commerce in Italy's reconstruction, with adaptations for various utilitarian roles. By the , the Vespa had been exported to over 100 countries, establishing Piaggio as a global player in affordable personal mobility and licensing production in multiple nations to meet international demand. This expansion was fueled by the scooter's iconic design and practicality, which appealed to urban commuters and contributed to Piaggio's revenue growth amid Italy's economic boom. In the and , Piaggio diversified beyond scooters into s, off-road vehicles, and small cars to broaden its market reach and address varying consumer needs. Key introductions included the in 1967, which became a bestseller for youth mobility, and ventures into off-road models suited for rugged terrain, alongside small cars like the 400 to compete in the compact automotive segment. These efforts helped stabilize production amid fluctuating scooter sales but also strained resources as Piaggio navigated competition from Japanese manufacturers. Piaggio pursued strategic acquisitions to strengthen its portfolio in motorcycles and expand capacity. In 1969, it acquired , an established Italian motorcycle brand, enhancing its presence in higher-displacement segments. This was followed by the purchase of in 2001, a Spanish specialist in small-capacity bikes, bolstering European market share. By 2004, Piaggio acquired and , integrating premium sport and touring motorcycle lines to diversify further and achieve . The 1990s brought significant challenges, including financial difficulties from over-diversification and market saturation, prompting a major restructuring that refocused operations on core two-wheeled products and restored equilibrium by the mid-decade. To improve cost efficiency and tap emerging markets, Piaggio formed a with China's Group in 2004, enabling localized production in and supporting global adaptation up to the early .

Corporate Structure

Ownership and Leadership

Piaggio was founded in 1884 by Rinaldo Piaggio in , , initially focusing on equipment before expanding into and under family control. Rinaldo Piaggio served as chief executive until his death in 1938, after which his sons, and Armando Piaggio, assumed leadership and divided operational responsibilities, with overseeing facilities in and , and Armando managing those in Sestri Ponente and . This family stewardship continued through the post-World War II era, during which spearheaded diversification into motorcycles and scooters to rebuild the company. In 1959, control of Piaggio shifted to the , owners of , marking a significant transition in governance while the company expanded its global presence under their influence. The Agnelli era lasted until the late 1990s, with serving as chairman in the early 1990s, though the firm faced financial challenges by decade's end. In 1999, Morgan Grenfell Private Equity, a unit of , acquired a controlling stake of approximately 65-70%, injecting capital to stabilize operations and refocus on core brands like . The ownership structure evolved further in 2003 when IMMSI S.p.A., led by entrepreneur Roberto Colaninno, gained control through a , becoming the majority and appointing Colaninno as chairman to drive a turnaround, including reduction and revitalization. Piaggio & C. S.p.A. went public in July 2006 with an on the Stock Exchange (), listing ordinary shares while IMMSI retained a dominant position. Roberto Colaninno, who passed away in 2023, was succeeded by his sons in key roles, maintaining family influence through IMMSI. As of 2025, Piaggio remains publicly traded on , with IMMSI S.p.A. holding a stake of approximately 50.57%, ensuring continued control by the Colaninno family. The , elected in April 2024 for a three-year term, comprises 12 members, including Matteo Colaninno as chairman and Michele Colaninno as . Other directors include independent members such as Graziano Gianmichele Visentin, Alessandro Lai, and Andrea Formica, with committees focused on internal controls, , and related-party transactions to oversee and .

Production Facilities and Operations

Piaggio's primary production facility is situated in , , operational since 1924, where the company manufactures scooters, Piaggio vehicles, and core components such as engines and frames, with recent investments in new production lines and automation enhancing its annual capacity. This site also houses the E-Mobility department and a cataphoresis paint shop, supporting efficient output of over 300,000 units annually from Italian operations combined. To serve global markets, Piaggio maintains international plants, including a facility in Vinh Phuc, , opened in 2012 to produce scooters for the Asian market, which has cumulatively manufactured over 600,000 vehicles in its first five years. In , a plant in , , established through a in 2012, focuses on two-wheelers and light commercial vehicles tailored for emerging markets. Indonesia's production site in , , near , commenced operations in November 2022 across 55,000 square meters, expanding capacity for Southeast Asian demand. Additional sites include a in , , and specialized facilities in and Scorzè, , for other brands, contributing to a total of eight locations worldwide. In October 2025, Piaggio announced a new subsidiary in the to bolster its Southeast Asian presence, handling imports and distribution to capitalize on the region's growing premium market. For , the group's global output reached approximately 481,600 vehicles, including 359,900 s and 121,700 commercial units shipped, reflecting a decline from previous peaks due to market contractions. Piaggio's operations emphasize integration across more than 4,000 dealers in over 100 countries, supported by over €1.5 billion in expenditures over the past decade for and efficiency improvements, such as robotic systems in Boston's Piaggio facility. Amid a 13.9% revenues drop in the first half of 2025, driven by reduced consumer spending and inventory adjustments, the company has optimized production capacities in , , and to maintain flexibility and mitigate geopolitical and regulatory challenges.

Brands

Current Brands

The Piaggio Group's current brands encompass a diverse portfolio of two-wheeled vehicles, spanning urban scooters, iconic lifestyle models, performance motorcycles, and heritage cruisers, enabling the company to address varied market segments from city commuting to high-performance riding. This allows for shared technological platforms, such as advanced architectures and aids, while each brand maintains a distinct identity to capture regional preferences, with two-wheelers collectively accounting for approximately 77% of the group's €1.994 billion net revenues in 2023. As of 2025, the active brands include Piaggio, , , and , contributing to global sales through targeted innovations and market positioning. The Piaggio brand focuses on practical scooters designed for everyday , emphasizing reliability, , and in congested cities. Flagship models include the 2025 Liberty, available in 125cc and 150cc four-stroke engines with i-get technology for low emissions and fuel economy, starting at around $3,299 for the 150cc variant in like the . Complementing this is the Beverly, updated for 2025 with a 5+-compliant 310cc liquid-cooled HPE delivering 27.7 and enhanced for smoother highway performance, positioned as a versatile crossover scooter blending scooter agility with . These models underscore Piaggio's role in providing affordable, eco-conscious transport solutions that integrate seamlessly with the group's broader ecosystem. Vespa remains the group's flagship , synonymous with elegance and cultural since its , targeting premium urban riders who value style alongside functionality. In 2024, Vespa commemorated Piaggio's 140th anniversary with a limited-edition model featuring exclusive white-and-blue graphics, a 278cc producing 23 , and only 140 units produced for the Vespa World Days event. Building on this heritage, the 2025 updates for the and Sprint introduced 12-inch wheels with split-spoke design, full-LCD instrumentation, keyless ignition on 125cc and 150cc variants, and refined seating for enhanced comfort, reinforcing Vespa's position as a timeless symbol of freedom in the small-body scooter segment. Aprilia specializes in high-performance motorcycles, appealing to sport-oriented enthusiasts with cutting-edge and racing-derived , often sharing platforms with other group for efficiency. The 2025 range includes renewals for the RS 660, now with a boosted parallel-twin outputting 105 via larger 52mm bodies and standard winglets for improved , alongside updated electronics like cornering . Similarly, the Tuono 660 Factory receives aerodynamic refinements and the same power upgrade, positioning it as a versatile naked bike for both track and road, with its Aprilia Performance Ride Control suite enhancing rider safety and dynamics. Moto Guzzi embodies the group's heritage cruiser segment, drawing on over a century of transverse V-twin to offer relaxed, characterful touring experiences for and bike aficionados. For 2025, the V100 Mandello receives updates including refined suspension tuning and enhanced wind protection on its S variant, powered by a 1,042cc air/oil-cooled V-twin delivering 115 hp for balanced long-distance cruising. The V85 TT lineup also sees 2025 enhancements, such as updated graphics, a 6-axis IMU with cornering aids, and standard luggage options on the Travel version, maintaining its enduro-touring appeal with an 853cc transverse V-twin producing 76 hp.

Former and Dormant Brands

Piaggio has managed several brands over its history that are now former or dormant, reflecting shifts in market priorities and strategic consolidations. Among these, stands out as a historic manufacturer acquired by Piaggio in 1969. Renowned for its racing pedigree, including six constructors' world championships in between 1950 and 1957, Gilera produced iconic models like the 500 Quattro, a four-cylinder racer that dominated the 500cc class in the pre-war era. Production of Gilera-branded vehicles under Piaggio continued into the 21st century, focusing on scooters such as the Runner and in the early 2000s, but ceased in by 2020, rendering the brand dormant while retaining its legacy of speed and innovation. Derbi, a manufacturer of motorcycles, scooters, and mopeds acquired by Piaggio in 2001, was oriented toward youth and entry-level riders primarily in , emphasizing fun, lightweight handling, and affordability. Known for models like the GPR series in 50cc configurations derived from racing technology, Derbi's production ceased in the early 2010s, rendering the brand dormant as of 2025. Laverda, another marque with a strong sportbike heritage, entered Piaggio's orbit indirectly through the 2000 acquisition of Laverda by , which Piaggio then purchased in 2004. Known for high-performance models like the 750 and 1000 series twins that emphasized durability and racing-inspired from the onward, Laverda's operations were closed by Piaggio shortly after the Aprilia in 2004, leading to the brand's . The decision aligned with broader efforts to streamline resources amid financial pressures, preserving Laverda's reputation for robust without active production. Scarabeo, originally launched as an scooter line in 1993 before evolving into a distinct sub-brand under the Piaggio Group, specialized in urban mobility vehicles with a focus on style and versatility. Models like the 200 and 500, produced through the mid-2010s, featured advanced features such as and in later iterations, but were phased out around 2016 due to shifting market demands toward smaller, compliant engines. Today, Scarabeo is fully dormant, with its legacy influencing Piaggio's ongoing scooter designs. Other notable dormant entities include , an Austrian manufacturer of and motorcycles acquired by Piaggio in 1987 amid economic challenges in the sector. Integrated into Piaggio's operations, Puch's Austrian facilities ceased shortly thereafter, with the brand fading into dormancy as resources shifted to core lines; its impact endures in the moped category through historical models like the Maxi. Additionally, Piaggio's early division, active from the through the post-World War II period, ended operations around 1950 as the company pivoted to civilian mobility products. These dormancies largely stem from market consolidation following the 2008 global financial crisis, which strained the industry and prompted Piaggio to concentrate on high-volume core brands like and to ensure financial stability and competitiveness. This strategic refocus preserved the group's heritage while adapting to evolving economic and regulatory landscapes, allowing dormant brands to contribute to Piaggio's storied legacy without active revival.

Products

Current Two-Wheeled Vehicles

Piaggio's current two-wheeled vehicle portfolio emphasizes scooters for and motorcycles for , with all models adhering to Euro 5+ emission standards to meet evolving regulatory demands across and global markets. In the scooter segment, the Piaggio Medley series targets smart-city mobility with its high-wheel design that enhances and ease of handling in congested urban environments. The Medley 200, for instance, features a liquid-cooled, four-valve i-get producing 13 kW of and 16.5 Nm of , optimized for efficient daily commutes while offering under-seat for practicality. Complementing this, the GTS lineup represents the super-sport category within scooters, with the 2025 GTS Super 310 delivering 25 horsepower from its 310cc high-performance , full LED lighting, and advanced suspension for spirited rides beyond city limits. For motorcycles, Aprilia's RX and SX models cater to enduro and enthusiasts, with 2025 updates including a redesigned , full LED illumination, and a digital color display for improved rider feedback. These 125cc variants emphasize lightweight agility and off-road capability, now available in new schemes like Varanus and Cubozoa . Meanwhile, Moto Guzzi's V7 series upholds its with modern refinements, as seen in the 2025 V7 Stone and Special models powered by an 853cc transverse yielding 67.3 hp and 79 Nm of torque, incorporating throttle-by-wire and riding modes for enhanced control on winding roads. The new V7 Sport variant adds inverted forks and radial brakes for a more dynamic profile. At EICMA 2025, Piaggio announced refreshed ranges across its brands, including Vespa's 80th anniversary editions for the GTS and Primavera models with special graphics, alongside Moto Guzzi's expanded V7 variants featuring new color options to celebrate the brand's legacy. These updates underscore Piaggio's focus on blending timeless design with contemporary technology. In terms of market performance, the group sold 184,900 two-wheelers in the first half of 2025, a 12.5% decline from 211,200 units in the prior year, amid global economic pressures; scooters continue to dominate output at approximately 70%, reinforcing urban mobility as the core strength.

Three-Wheeled and Commercial Vehicles

Piaggio's Ape range encompasses a series of three-wheeled vehicles designed primarily for commercial and passenger applications, offering compact solutions for urban and rural transport. The lineup includes models like the Ape Xtra Classic Diesel for cargo hauling, with a 7.64 hp engine and up to 511 kg payload capacity, and the Ape NXT Plus CNG variant for passenger services, featuring an 8.71 hp engine and 50 km/kg efficiency. For tourism and leisure, the Ape Calessino provides an open-air, three-wheeled configuration suitable for guided tours in narrow streets. In 2025, Piaggio introduced electric updates to the Ape range, such as the Ape E-City Ultra with a 10.2 kWh battery offering 236 km range and 28% gradeability, enhancing efficiency for daily operations while incorporating smart telematics for monitoring. These variants prioritize low operating costs and reduced emissions, with features like remote immobilization for added security. The series represents Piaggio's leaning three-wheeled scooters, engineered for superior urban stability through a patented tilting front that allows the vehicle to lean into corners like a while maintaining the balance of two front wheels. Available in 300cc and 500cc displacements, the 2025 MP3 300 HPE model delivers 25.8 for agile city commuting, with updates including enhanced and traction control to improve handling on varied surfaces. The larger 530cc Exclusive variant, producing 43.5 , incorporates automotive-inspired safety elements such as blind-spot monitoring (BLIS), reverse gear with rear camera, and , making it ideal for riders seeking confidence in congested traffic without a full in many regions. These models emphasize rider safety and ease of use, with the leaning mechanism reducing rollover risk and enabling single-handed parking. Piaggio's Porter series focuses on quadricycle vans tailored for light commercial duties, with the 2025 NP6 model lineup featuring versatile configurations including short- or long-wheelbase options and payloads up to 1,640 kg. Equipped with a 1.5L CombiFuel engine (78 kW, Euro 6E compliant), the NP6 integrates advanced safety features like Automatic Emergency Braking (AEB), Electronic Stability Programme (ESP), Tyre Pressure Monitoring System (TPMS), and Driver Attention Warning (DAW) to meet GSR 2 regulations and enhance collision avoidance in urban settings. Internal fittings across four equipment levels (Pro, HD Pro, Top, HD Top) include manual air conditioning, digital instrumentation, and customizable cargo areas for tools or shelving, supporting diverse professional needs. In the first half of 2025, Piaggio's commercial vehicle sales reached 53,500 units, reflecting a 9.1% decline from the prior year amid market challenges, yet underscoring the Porter's role in maintaining operational efficiency. These three-wheeled and offerings from Piaggio serve critical applications in , , and light , particularly in where they facilitate last-mile urban distribution, and in emerging markets like and for affordable cargo and passenger transport. The and Porter models excel in navigating congested streets for e-commerce deliveries and small-scale , while the MP3 supports personal rides with enhanced stability for scenic or commuter routes. Produced primarily at the facility in , these vehicles contribute to sustainable by optimizing space and fuel use in high-density environments.

Electric and Hybrid Models

Piaggio has expanded its offerings with models designed for urban commuting and delivery, emphasizing zero-emission mobility. The Piaggio 1, launched in 2021 as an active e-scooter, features a 2.3 kWh removable and achieves a top speed of 60 km/h in its Active variant, with a range of up to 85 km in ECO mode. This model prioritizes practicality with features like underseat storage and (KERS) for , making it suitable for city environments. Similarly, the Elettrica, Piaggio's iconic electric scooter, received updates in 2024 for its variant, incorporating a 4.2 kWh that provides a range of approximately 100 km per charge, supported by a 3.6 kW . In the hybrid and zero-emission commercial segment, Piaggio introduced the Ape E-City series for delivery applications, offering fully electric three-wheeled vehicles with no tailpipe emissions. The 2025 Ape E-City Ultra model boasts a 10.2 kWh (LFP) battery, delivering a certified of 236 km and a top speed of 45 km/h, optimized for last-mile in urban areas. While Piaggio's 2025 lineup includes systems in development to bridge internal combustion and full . At 2025, Piaggio showcased expansions in its electric portfolio, including enhanced versions of the Elettrica and E-City models. These efforts align with growing electric segment contributions to group sales, even as overall profits declined 49% to €31.7 million in the first nine months of 2025 due to market challenges. To support adoption, Piaggio integrates its electric vehicles with urban mobility apps like Ape iConnect, enabling real-time performance monitoring, route optimization, and for seamless charging and navigation in city ecosystems.

Innovations and Sustainability

Technological Advancements

Piaggio has integrated advanced safety features across its 2025 model lineup, particularly in Aprilia and Moto Guzzi vehicles, to enhance rider stability and control. The Aprilia RS 660 employs a six-axis inertial measurement unit (IMU) that enables cornering ABS and traction control, optimizing braking and intervention during leans for improved performance without sacrificing safety. Similarly, the Moto Guzzi V7 Sport for 2025 incorporates a six-axis IMU to activate cornering ABS and traction control, allowing precise management of electronic aids like ride modes and cruise control tailored to road conditions. The Aprilia RSV4 Factory also features next-generation active control systems, including standard ABS and adjustable traction control, contributing to its track-ready capabilities. Connectivity advancements are centered on the Piaggio MIA platform, which links smartphones to vehicle electronics via for seamless integration across and Piaggio models. This system supports transferred directly to the vehicle's display, real-time vehicle statistics monitoring, and multimedia management, enhancing urban riding convenience on models like the Vespa Primavera S and Sprint S. While separate electronic anti-theft devices provide robust with remote controls and improved sensitivity, the MIA platform focuses on live data tracking for performance insights rather than recovery. Engine technology emphasizes efficiency and compliance, with the i-get single-cylinder engine achieving Euro 5+ standards through electronic and a three-valve distribution system. Featured in models like the Liberty 125 and 150, this air-cooled, four-stroke design delivers optimized torque—such as 2.9 Nm at 6,500 rpm in the 50 cc variant—and reduced emissions, supporting smooth urban operation with fuel consumption around 3 liters per 100 km. Hybrid and electric innovations in Piaggio's three-wheeled lineup incorporate to recapture during deceleration, extending and efficiency in urban settings. The Electrik FX , including the E-City and E-Xtra models, uses this alongside lithium-ion batteries for up to 150 km of certified , with peak power outputs like 7.4 kW, making it suitable for last-mile delivery while minimizing energy loss. Although the Beverly series relies on high-performance engines without integration, the Ape's systems represent Piaggio's push toward sustainable powertrains. Piaggio invests over €180 million annually in capital expenditures, a significant portion directed toward R&D for and enhancements, as evidenced by the 2024 figure of €182.7 million, up 12.2% from the prior year. These efforts include collaborations through Piaggio , which develops autonomous urban mobility solutions like the gita (18 kg payload, up to 9.6 km/h) and (136 kg payload, 5 km/h) robots—self-following carriers designed for . A key partnership with Trimble in 2021 demonstrated proof-of-concept for dynamic following technology in and , enabling robot swarms to navigate complex environments alongside humans.

Environmental and Cultural Initiatives

Piaggio Group has committed to a comprehensive decarbonization plan, aiming to reduce emissions from production activities by 42% by 2030 compared to 2022 levels, in alignment with the Science-Based Targets initiative. This strategy includes investments in sources, improvements in processes, and the integration of low-carbon technologies across its facilities, with progress reported in the 2025 half-year financials showing initial advancements in facility efficiency. The plan also extends to Scope 3 emissions, focusing on reductions through supplier engagement and sustainable material sourcing. In 2025, amid financial pressures including a 49% decline in net profit to €31.7 million for the first nine months due to softening global demand and higher input costs, Piaggio intensified its push toward electric to support long-term goals. The company emphasized in its segment through expanded production and market entry strategies. To address end-of-life concerns, Piaggio implements sustainable lifecycle management programs, including partnerships for and replacement financing that facilitate and , reducing environmental impact and operational costs for users. On the cultural front, the Piaggio Foundation, established in 1994 as a non-profit entity, promotes the intersection of industry, art, and territory through initiatives that preserve and disseminate the company's heritage. It supports educational programs, exhibitions, and community projects that highlight Piaggio's role in Italian design and innovation. Complementing these efforts, the Piaggio Museum in Pontedera, opened in 2000 and renovated in 2018, spans 5,000 square meters and features over 350 exhibits, with a dedicated section showcasing more than 140 Vespa models from prototypes like the 1945 MP6 to iconic variants such as the 1951 125cc featured in Roman Holiday. The museum has attracted nearly 950,000 visitors, underscoring its role in educating the public on Piaggio's evolution from aeronautics to mobility icons. The Piaggio Historical Archives further bolster cultural preservation, housing materials spanning the company's history from to the present, including documents, photographs, and videos across seven covering production, personnel, and design. These archives, accessible by appointment, serve as a vital resource for researchers and exhibitions, ensuring the legacy of Piaggio's contributions to industrial remains documented and accessible. In 2025, Piaggio advanced its cultural and environmental initiatives through participation in EICMA's sustainability-focused events, where it highlighted innovations as part of broader commitments to efficient in with transport authorities. Additionally, the company expanded green urban efforts in the via a new subsidiary handling , Piaggio, and imports, building on prior electric three-wheeler deployments with battery-swapping technology to promote low-emission last-mile solutions. These actions reflect Piaggio's dual focus on and cultural legacy, with ongoing efforts to recognize the as a symbol of to safeguard its historical significance amid evolving regulations.

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