Piaggio & C. SpA (Piaggio [ˈpjaddʒo]) is an Italian motor vehicle manufacturer, which produces a range of two-wheeled motor vehicles and compact commercial vehicles under seven brands: Piaggio, Vespa, Gilera, Aprilia, Moto Guzzi, Derbi, and Scarabeo. Its corporate headquarters are located in Pontedera, Italy. The company was founded by Rinaldo Piaggio in 1884, initially producing locomotives and railway carriages.
Piaggio's subsidiaries employ a total of 7,053 employees and produced a total of 519,700 vehicles in 2014. The manufacturer has six research-and-development centers and operates in over 50 countries.
|Piaggio & C. SpA|
|Traded as||BIT: PIA|
|Founded||24 January 1884|
|Revenue||€1,295 million (2015)|
|€161.8 million (2015)|
|€11.9 million (2015)|
Number of employees
In 1882, Enrico Piaggio purchased land in Sestri Ponente (Genoa) to set up a timber yard. Two years later, in 1884, his 20 year old son, Rinaldo Piaggio, founded Piaggio & C. The company initially built locomotives and railway carriages but in 1917, towards the end of World War, Rinaldo Piaggio turned to the military sector. To begin with, the company produced MAS anti-submarine motorboats, aeroplanes and seaplanes under Ansaldo, Macchi, Caproni, and Dornier licenses but later progressed to vehicles constructed according Piaggio's own drawings.
Rinaldo died in 1938, by which time Piaggio was owned by multiple shareholders within the family, along with the entrepreneur Attilio Odero. Management of the company passed to his sons Enrico and Armando.
By 1940 Piaggio was manufacturing trains, nautical fittings, aircraft engines, aeroplanes, trucks, trams, buses, funiculars and aluminium windows. The Pontedera plant was destroyed by Allied bombing and production activities were relocated to the Biella area. After the war, Enrico Piaggio decided to diversify the company's activities outside the aeronautical industry to address a perceived need for a modern, affordable mode of transport for the Italian mass market. The first attempt, based on a small motorcycle made for parachutists, was known as the MP5 and nicknamed the "Paperino" (the Italian name for Donald Duck) because of its strange shape. Ultimately Enrico Piaggio did not like it and asked Corradino D’Ascanio to redesign it.
D'Ascanio, an aeronautical engineer responsible for the design and construction of the first modern helicopter by Agusta, was not naturally enthusiastic about motorcycles, judging them to be uncomfortable and bulky, with wheels that were difficult to change after a puncture. When asked to design a motorcycle for Ferdinando Innocenti, D'Ascanio had come up with a step through scooter design but D'Ascanio and Innocenti disagreed over use of pressings rather than tubing so D'Ascanio brought his design to Piaggio. Innocenti would ultimately use D'Ascanio's original design for their Lambretta scooter.
Piaggio asked D'Ascanio to create a simple, robust and affordable vehicle. The motorcycle had to be easy to drive for both men and women, be able to carry a passenger, and not get its driver's clothes dirty. The engineer's drawings proved a significant departure from the Paperino. With the help of Mario D'Este he prepared the first Vespa project, manufactured at Piaggio newly-rebuilt Pontedera headquarters in April 1946. Piaggio launched the Vespa (Italian for "wasp") and within ten years more than a million units had been produced. The Italian language gained a new word, "vespare", meaning to go somewhere on a Vespa.
Vespa thrived until 1992 when Gianni Agnelli became CEO. Agnelli was already suffering from cancer and died in 2003. In 1999 Morgan Grenfell Private Equity acquired Piaggio, but hopes for a quick sale were dashed by a failed joint venture in China. In Italy, Piaggio invested 15 million euros ($19.4 million) in a new motorcycle but dropped it after building a prototype. By the end of 2002, the company had run up 577 million Euros in debt on revenues of 945 million Euros, and booked a loss of 129 million Euros.
In 2003 Piaggio's debt was reduced a 100 million Euro investment made by IMMSI, a holding company of the Colaninno family. 150 million shares were also converted by creditor banks. Reflecting on his investment, Roberto Colaninno said,
"A lot of people told me I was crazy. Piaggio wasn't dying. It just needed to be treated better.""
Colannino became the new chairman of Piaggio, while Dr. Rocco Sabelli becoming the managing director. Sabelli redesigned the production line according to Japanese principles so that every Piaggio scooter could be made on any assembly line. Contrary to expectations, Mr. Colaninno did not fire a single worker – a move which helped seduce the company's skeptical unions. "Everyone in a company is part of the value chain," said Colaninno. All bonuses for blue-collar workers and management were based on the same criteria: profit margins and customer satisfaction. Air conditioning was installed in the factory for the first time, increasing productivity. He also gave the company's engineers, who had been idled by the company's financial crisis, deadlines for projects. They rolled out two world firsts in 2004: a gas-electric hybrid scooter and a sophisticated tilting scooter with two wheels in front and one in back to grip the road better.
One of Piaggio's problems Mr. Colaninno couldn't fix from the inside was its scale. Even though Piaggio was the European market leader, it was dwarfed by rivals Honda and Yamaha. A year after restoring Piaggio's health, Colaninno directed Piaggio's takeover of the Italian scooter and motorcycle manufacturer Aprilia, and with it the Aprilia-owned Moto Guzzi, a storied Italian manufacturer of motorcycles.
In 2006, Piaggio floated on the Milan Stock Exchange, becoming a public company.
In 1956, with production of the millionth Vespa scooter, Italy had its first mass-produced motorised vehicle. Taking advantage of increased cash flow thanks to the success of the Vespa, Piaggio developed other products, including the 1957 Vespa 400, a compact passenger car.
By 1960 Vespa had produced and sold 4 million units worldwide.
In 1964 the aeronautical and motorcycle divisions of Piaggio split to become two independent companies as a result of the wide ownership by Fiat in Italian industry. The aeronautical division was named IAM Rinaldo Piaggio. The aircraft company Piaggio Aero was controlled by the family of Piero Ferrari, who still hold 10% of Ferrari.
In 1969 Piaggio purchased the motorcycle company Gilera, one of the oldest European motorcycle manufacturers (founded in 1909), famous for its sporting achievements and world titles in the Motorcycle World Championship.
In 1971 a steering wheel was added to the Piaggio Ape, a model first produced in 1948, culminating in the Ape Car. Four years later, in 1975, the company made the first prototype of an electric Ape.
In 1988 the Vespa reached the milestone of 10 million units produced.
In 1996, on the fiftieth anniversary of the first model, Vespa passed 15 million units produced and the new 4-stroke Vespa ET, the first completely new Vespa for 18 years, was launched. Piaggio was still in poor financial health but its brand recognition remained strong, boosted by the appearance of the ET4 in several Hollywood films.
In 2000 Piaggio and Vespa returned to the United States with the opening of the first Vespa Boutique in Los Angeles. In that same year the Piaggio Historical Museum was inaugurated in Pontedera. The museum showcases the Piaggio Historical Archive, one of the most comprehensive company archives on the industrial history of Italy.
In 2001 the Piaggio Group acquired Derbi-Nacional Motor SA, an historical Spanish brand founded in 1922 that had won 18 world titles and was a continental leader in the small displacement motorbike segment. In the same year Gilera returned to the Motorcycle World Championship and immediately won the world title in the 125 category with Manuel Poggiali.
In 2007 Piaggio Group officially arrives in Vietnam. The Vinh Puch plant includes R&D, welding and painting activities, as well as final assembly of the scooters, with warehouse, testing, quality control and office areas.
In 2009 the Piaggio Mp3 Hybrid makes its debut on the market which was first hybrid scooter in the world, integrating the conventional low-environmental-impact internal combustion engine with a zero-emission electric motor and combining the advantages of the two power trains.
In 2013 the PADC – Piaggio Advanced Design Center opened in Pasadena (California, United States). The Vespa 946 was also launched this year, along with the new Vespa Primavera, the latest evolution of the "small body" family.
In 2013 Vespa's worldwide sales numbered almost 190,000 units; in 2004 the figure stood at 58,000. In ten years of continuous progression over 1.3 million new Vespas have reached the streets of the world. Since 1946 over 18 million Vespas have been produced and sold.
In September 2017 Foton and Piaggio agreed to form a joint venture to develop and produce light commercial vehicle. Based on Foton chassis the new vehicle was sold by Piaggio Commercial Vehicle division in Europe and in all markets around the world but not in China. The vehicle is intended to be a successor of the Piaggio Porter and production is planned to start in mid-2019 in Pontedera (Italy) with all components produced by Foton in China.
Piaggio's "cultural project" promotes the reconstruction and enhancement of the company's heritage and is composed by three initiatives: the Piaggio Foundation, the Historical Archives and the Piaggio Museum. In 2003 the Museum and Archives were recognised as the Best Corporate Museum and Archive by winning the Italian prize "Premio Impresa e Cultura". In 2016, under the patronage of the Italian Ministry of Culture, Piaggio received the Corporate Art Award from pptArt for its Corporate Museum.
The new plug-in hybrid version of the Piaggio MP3 will be equipped with a 125 cc petrol engine and electric motor, which offers about 141 mpg‑US (1.67 L/100 km; 169 mpg‑imp) and travels 13 miles (21 km) using battery power alone. This machine could be out in 2009.
The 1980 Giro d'Italia was the 63rd running of the Giro d'Italia, one of cycling's Grand Tours races. The Giro started in Genoa, on 15 May, with a 7 km (4.3 mi) prologue and concluded in Milan, on 8 June, with a 114 km (70.8 mi) mass-start stage. A total of 130 riders from thirteen teams entered the 22-stage race, that was won by Frenchman Bernard Hinault of the Renault-Gitane-Campagnolo team. The second and third places were taken by Italians Wladimiro Panizza and Giovanni Battaglin, respectively.Amongst the other classifications that the race awarded, Gis Gelati's Giuseppe Saronni won the points classification, Claudio Bortolotto of Mobilifico San Giacomo-Benotto won the mountains classification, and Bianchi-Piaggio's Tommy Prim completed the Giro as the best rider aged 24 or under in the general classification, finishing fourth overall. Bianchi-Piaggio finishing as the winners of the team classification, ranking each of the twenty teams contesting the race by lowest cumulative time.Aprilia
Aprilia is an Italian motorcycle company, one of the brands owned by Piaggio. Having started as a manufacturer of bicycles it moved on to manufacture scooters and small-capacity motorcycles. In more recent times Aprilia has produced large sportbikes such as the 1,000 cc V-twin RSV Mille and the V4 RSV4. Aprilia has enjoyed considerable success in road-racing.Bianchi (cycling team)
Bianchi was an Italian professional cycling team that was sponsored by and cycled on Bianchi Bicycles. A Bianchi cycling team existed in 1899 which implies that Bianchi was sponsoring professional cycling at a very early stage in the sport. It appears that the team existed from 1899 to 1900, then from 1905 to 1966, then from 1973 until 1984. It existed again in 1993 and for the last time in 2003, as Team Bianchi. In addition Bianchi has been a co-sponsor of many cycling teams.Blackburn Lincock
The Blackburn F.2 Lincock was a British single-seat lightweight fighter produced by Blackburn Aircraft Limited.Blackburn Segrave
The Blackburn B-1 Segrave was a 1930s British twin-engine four-seat touring aircraft built by Blackburn Aircraft.Bristol Jupiter
The Bristol Jupiter was a British nine-cylinder single-row piston radial engine built by the Bristol Aeroplane Company. Originally designed late in World War I and known as the Cosmos Jupiter, a lengthy series of upgrades and developments turned it into one of the finest engines of its era.
The Jupiter was widely used on many aircraft designs during the 1920s and 1930s. Thousands of Jupiters of all versions were produced, both by Bristol and abroad under licence.
A turbo-supercharged version of the Jupiter known as the Orion suffered development problems and only a small number were produced. The "Orion" name was later re-used by Bristol for an unrelated turboprop engine.Derbi
Derbi is a manufacturer of motorcycles, scooters, mopeds and recreational all-terrain vehicles produced by Nacional Motor S.A.U., a Spanish subsidiary of Piaggio & Co. SpA.Gilera
Gilera is an Italian motorcycle manufacturer founded in Arcore in 1909 by Giuseppe Gilera. In 1969, the company was purchased by Piaggio.List of teams and cyclists in the 1981 Giro d'Italia
The 1981 Giro d'Italia was the 64th edition of the Giro d'Italia, one of cycling's Grand Tours. The field consisted of 130 riders, and 104 riders finished the race.Moto Guzzi
Moto Guzzi is an Italian motorcycle manufacturer and the oldest European manufacturer in continuous motorcycle production.Established in 1921 in Mandello del Lario, Italy, the company is noted for its historic role in Italy's motorcycling manufacture, its prominence worldwide in motorcycle racing, and industry innovations—including the first motorcycle centre stand, wind tunnel and eight-cylinder engine.Since 2004, Moto Guzzi has been an unico azionista, a wholly owned subsidiary, and one of seven brands owned by Piaggio & C. SpA,
Europe's largest motorcycle manufacturer and the world's fourth largest motorcycle manufacturer by unit sales.The company's motorcycles are noted for their air-cooled 90° V-twin engines with a longitudinal crankshaft orientation where the engines' transverse cylinder heads project prominently on either side of the motorcycle.Nardi FN.305
The Nardi FN.305 was an Italian fighter trainer and liaison monoplane developed by the Fratelli Nardi company.Piaggio Aerospace
Piaggio Aerospace, formerly Piaggio Aero Industries, is a multinational aerospace manufacturing company headquartered in Villanova d'Albenga, Italy. It shares its ancestry with motor vehicle manufacturer Piaggio and is one of the world's oldest aircraft manufacturers.
Piaggio Aerospace designs, develops, manufactures and maintains aircraft, aero-engines and aircraft structural components. It has a subsidiary in the United States, Piaggio America, located at West Palm Beach, Florida.
On December 3, 2018, Piaggio Aerospace was admitted to go under receivership after declaring itself insolvent as its restructuring plan failed, less than a year after its owner, Mubadala, injected €255 million ($308 million) and repurchased its bank debt, as the P.180 Avanti deliveries fell to four in 2018 from 30 in 2008.Piaggio P.108
The Piaggio P.108 Bombardiere was an Italian four-engine heavy bomber that saw service with the Regia Aeronautica during World War II. The prototype first flew in 1939 and it entered service in 1941.
It was one of a handful of Italian combat aircraft that could match the best manufactured by the Allies.
Four versions of the P.108 were designed, but only one, the P.108B bomber, was produced in any quantity before the armistice. The other variants included the P.108A anti-ship aircraft with a 102 mm (4 in) gun, the P.108C, an airliner with an extended wingspan and re-modelled fuselage capable of carrying 32 passengers, and the P.108T transport version designed specifically for military use. Only one P.108A and 24 P.108Bs were built. The combined total number of all versions (and prototypes) was at least 39, almost certainly more than 44. Most of the P.108Cs were subsequently modified for use as military transport aircraft and could accommodate up to sixty passengers.
Nine P.108 Ts were used by Luftwaffe transport units until the end of the war.Piaggio P.166
The Piaggio P.166 is a twin-engine pusher-type utility aircraft developed by the Italian aircraft manufacturer Piaggio Aero. The aircraft model name was Portofino, and is also known as Albatross in South African military service.Piaggio P.180 Avanti
The Piaggio P.180 Avanti is an Italian executive transport aircraft with twin turboprop engines mounted in pusher configuration. It seats up to nine people in a pressurized cabin, and may be flown by one or two pilots. The design is of three-surface configuration, having both a small forward wing and a conventional tailplane as well as its main wing, with the main wing spars passing behind the passenger cabin area.Piaggio P.32
The Piaggio P.32 was an Italian medium bomber of the late 1930s, produced by Piaggio, and designed by Giovanni Pegna. It was a modern design for its time, but was a failure due to lack of powerplants commensurate with its high wing loading.Piaggio P.XI
The Piaggio P.XI was an Italian 14-cylinder radial aircraft engine. The P.XI was a licensed derivative of the French Gnome-Rhône Mistral Major 14K produced in Italy. Isotta Fraschini also produced a version of the 14K called the K.14.
Further development led to the P.XIX. This featured an increased compression ratio from 6:1 to 7:1 and an rpm increase from 2,400 to 2,600.Piaggio PD.808
The Piaggio PD.808 was an Italian business jet built by Piaggio. It was designed as a joint venture between Piaggio and Douglas Aircraft Company of Long Beach, California, United States.Vespa
Vespa (Italian pronunciation: [ˈvɛspa]) is an Italian brand of scooter manufactured by Piaggio. The name means wasp in Italian. The Vespa has evolved from a single model motor scooter manufactured in 1946 by Piaggio & Co. S.p.A. of Pontedera, Italy to a full line of scooters and one of seven companies today owned by Piaggio.From their inception, Vespa scooters have been known for their painted, pressed steel unibody which combines, in a unified structural unit, a complete cowling for the engine (enclosing the engine mechanism and concealing dirt or grease), a flat floorboard (providing foot protection), and a prominent front fairing (providing wind protection).