Amid all its financial woes, KTM’s parent company, Pierer Mobility AG, has severed ties with MV Agusta, which it acquired early on in this year.
- KTM currently needs funding of more than 100 million Euros
- MV Agusta production will move back to Varese, Italy
KTM recently announced that it is going to undertake ‘far-reaching restructuring’ with a view to cut its losses and become profitable again. As part of this move, the Austrian marque has dropped MV Agusta from its portfolio. This news comes just nine months after KTM acquired a majority stake (50.1 per cent) in the storied Italian brand.
Times have been tough for the motorcycle industry in Europe, hit by issues including supply chain disruptions, changing consumer preferences, and the transition toward electric mobility. KTM, known for its focused off-road motorcycles and street bikes, has been a significant player in the European and American motorcycle markets. Pierer Mobility AG still has the Husqvarna and GasGas brands under its umbrella, alongside KTM.
As part of this restructuring move, MV Agusta is again an independent motorcycle company, which will resume production at its home base in Varese, Italy.
Also See: KTM’s financial troubles grow, seeks funding upward of 100 million Euros
