EQS-News: PIERER Mobility AG / Key word(s): Strategic Company Decision
PIERER Mobility and CFMOTO strengthen its cooperation
PIERER Mobility, Europe's leading manufacturer of "Powered-Two-Wheelers", and CFMOTO is strengthening their cooperation in the areas of product strategy, development as well as industrialization. In January 2023, KTM took over the distribution of CFMOTO motorcycles in Germany, Austria, Switzerland, Spain and Great Britain. The group is leveraging its excellent sales organization in these markets. Production capacity is to be increased from currently 50,000 to 100,000 units.
„PIERER Mobility and CFMOTO have been in partnership for almost ten years. CFMOTO is our production and sales partner for KTM motorcycles in China, and in recent years it has expanded its capacities and supply chain to meet this need," says Hubert Trunkenpolz, Member of the Executive Board of PIERER Mobility. "We work well together. We have known the Lai family as the majority shareholder of CFMOTO for more than ten years. The intensification of the joint venture and the cooperation in the areas of product strategy, product development, industrialization, and sales is a further development of our consistent cooperation and a further step to be able to serve the increasing market demand in China and the Asian region, as well as worldwide.”
As a sign of the deepening of the cooperation, CFMOTO increases its stake in the stock listed PIERER Mobility AG to 2,0 %.
Founded in 1989, ZHEJIANG CFMOTO POWER CO., LTD. has been engaged in developing, manufacturing, marketing and delivering reliable motorcycles, off-road vehicles and e-mobility with innovative V2X, engines, frames, parts, apparels and accessories, which are distributed through more than 3000 dealers worldwide.
About PIERER Mobility AG:
PIERER Mobility AG is the holding company of Europe’s leading manufacturer of powered two-wheelers, producing a full range of premium brands including KTM, GASGAS and Husqvarna Motorcycles. With key strengths in innovation, PIERER Mobility is a pioneering technology leader in two-wheeled e-mobility through its motorcycle brands. Its Husqvarna E-Bicycles, GASGAS Bicycles and FELT Bicycles complement the two-wheeler segment. Rounding out the premium brand offering are high-performance components produced under the WP brand and KTM X-BOW high-end sports cars.
For further Information:
Melinda Busáné Bellér
Tel.: +43 (0) 1 533 1 433 – 70
Tel.: +43 7742 6000 -711
|Company:||PIERER Mobility AG|
|Phone:||+43 (0) 7242 69 402|
|Listed:||SIX, Vienna Stock Exchange|
|EQS News ID:||1673665|
|Valorennummer (Schweiz): 41860974Wertpapierkürzel: PMAG,Bloomberg: PMAG SEReuters: PMAG.S|
|End of News||EQS News Service|