2012 Half year financial report

Piaggio and research and development

Anticipating customer requirements, creating products that are innovative in terms of their technology, style and functionality, pursuing research for a better quality of life are all fields of excellence in which the Piaggio Group excels, as well as a means for measuring its leadership position on the market.

The Piaggio Group develops these areas through research and development at 6 centres in Italy, India, Vietnam and China.

In particular, its main goal is to satisfy the latest needs for mobility while reducing the environmental impact and consumption of its vehicles and guaranteeing an excellent performance, producing a new generation of vehicles that are.

  • environmentally-friendly, and namely that can reduce emissions of pollutant gases and CO2 in urban areas, based on developments in traditional technologies and a greater use of renewable and sustainable energy sources;
  • reliable and safe, to get about town easily, helping to reduce traffic congestion and guaranteeing high standards of active, passive and preventive safety;
  • recyclable, to minimise environmental impact, even at the end of their useful life cycle;
  • cost-effective, to reduce running costs per kilometre.

Piaggio's research and development is strongly focussed on two main themes: developing engines that are even more environmentally friendly and with an even better performance, and vehicles with an improved functionality and safety.

In millions of euro1st half of 20121st half of 2011
  Capitalised Reimbursed  Total  Capitalised Reimbursed  Total 
             
EMEA and Americas 15.3 8.6 23.8 15.5 10.7 26.2
India 8.3 0.6 8.9 7.8 0.4 8.2
ASIA SEA 4.6 0.4 5.0 2.0 0.7 2.7
             
Total 28.1 9.6 37.7 25.3 11.8 37.1
   

In 2012, the Piaggio Group continued its policy of retaining technological leadership in the sector, allocating total resources of 37.7 million Euro to research and development, of which 28.1 million Euro capitalised under intangible assets as development costs.