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Piaggio is the parent company that owns and produces the Vespa badge. The relationship is very similar to GM. GM is the parent company, they own many brands including GMC, Chevrolet, Cadillac etc. Piaggio is the parent company, they own Piaggio, Vespa, Derbi, Gillera, Aprilia etc.

Almost all Piaggio mopeds have a direct Vespa equivalent. Eg Vespa Ciao and Vespa Bravo.