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PIERER Mobility AG: Intensification of the joint venture with CFMOTO in China

·3-min read

DGAP-News: PIERER Mobility AG / Key word(s): Joint Venture/Alliance
30.09.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

Corporate News

Wels, 30 September 2020

PIERER Mobility AG:

- Intensification of the joint venture with CFMOTO in China

- Strengthening the presence in China and expanding market shares

Intensification of the joint venture with CFMOTO in China - Strengthening the presence in China and expanding market shares
The joint venture with CFMOTO is being further strengthened in order to be able to serve the increasing market demand primarily in China and globally. The new middle class series (750 cc) will be produced in the newly built factory of the Chinese joint venture in Hangzhou. Production will start at the beginning of 2021 and will be supplemented in the future by further models from the 890cc series and selected off-road models. This is intended to strengthen the presence in China and further expand market shares.

Increase of the stake in PIERER Mobility AG to over 2%
As a sign of the deepening of the cooperation, CFMOTO has acquired around another percent in the listed Pierer Mobility AG and thus holds around 2.05% in the company. These shares acquired by CFMOTO come from Pierer Konzerngesellschaft mbH and directors of the Pierer Group. The transaction is expected to close in December 2020.

About the Group
The PIERER Mobility Group is Europe's leading manufacturer of "powered two-wheelers" (PTW). With its globally known motorcycle brands KTM, HUSQVARNA and GASGAS, it is one of the European technology and market leaders, especially for premium motorcycles. In addition to vehicles with combustion engines, the product range also includes emission-neutral vehicles with innovative electric drives and e-bikes. As a pioneer in electromobility for two-wheelers in the low-voltage range (48 volts) the group and its strategic partner Bajaj have the prerequisites to assume a leading global role. With the take-over of the electric bicycle business from PEXCO the group took a next step into the segment of 2-wheel electro mobility. E-bicycle activities will be promoted under the brands HUSQVARNA E-Bicycles, R Raymon and GASGAS E-Bicycles in order to participate in the attractive market growth of the e-bicycle segment and to become a major international player there. Thanks to our innovative strength, we see ourselves as the technology leader in the two-wheeler sector in Europe. The partnership with Bajaj, India's second largest motorcycle manufacturer, strengthens competitiveness in global markets.


Contact:
Investor Relations
Mag. Michaela Friepeß, Tel.: +43 (0)7242 / 69402
Email: ir@pierermobility.com, Website: www.pierermobility.com


30.09.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

PIERER Mobility AG

Edisonstrasse 1

4600 Wels

Austria

Phone:

+43 (0) 7242 69 402

E-mail:

ir@pierermobility.com

Internet:

www.pierermobility.com

ISIN:

AT0000KTMI02

WKN:

A2JKHY

Listed:

Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Tradegate Exchange; SIX, Vienna Stock Exchange (Official Market)

EQS News ID:

1137752


Valorennummer (Schweiz): 41860974Wertpapierkürzel: PMAG,Bloomberg: PMAG SE, PMAG GYReuters: PMAG.S

 

End of News

DGAP News Service

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