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Piaggio, KTM, Honda and Yamaha to create swappable batteries consortium

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MILAN (Reuters) - Italian scooter maker Piaggio said on Monday it signed a letter of intent with KTM AG, Honda Motor Co. and Yamaha Motor Co. to set up a consortium for swappable batteries for motorcycles and light electric vehicles.

"The founding members of the consortium believe that the availability of a standardized swappable battery system would both promote the widespread use of light electric vehicles and contribute to a more sustainable life-cycle management of batteries used in the transport sector", Piaggio said in a statement.

The consortium, which will start operating in May and is open to all investors interested in joining, aims to define standard technical specifications for swappable batteries for mopeds and motorcycles, it added.

(Reporting by Elisa Anzolin, editing by Giulia Segreti)