27.11.2024 | 1 Image

PMAG Bicycle Business Update

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KTM AG and its subsidiaries KTM Components GmbH and KTM F&E GmbH are undergoing a court-supervised reorganization, but this has no impact on PIERER New Mobility GmbH. The bicycle business will continue without interruptions, and all commitments and payment schedules remain unchanged. Challenges in the motorcycle division are seen as an opportunity for a fresh start.

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Dear Valued Partner,

You have likely learned from the media that KTM AG, along with its subsidiaries KTM Components GmbH and KTM F&E GmbH, will be entering a court-supervised reorganization process under self-administration.

This development does not impact PIERER New Mobility GmbH, the entity managing the bicycle business of PIERER Mobility AG. Our operations will continue as usual, ensuring uninterrupted delivery of bicycles, spare parts, and accessories. Customer service and the flow of goods remain unaffected.

All existing commitments, including retailer entitlements, discounts, and bonuses, will be honored as agreed, and payment schedules for current invoices remain unchanged.

What KTM has announced may feel like a blow, but it also marks a new beginning for the motorcycle division. We, the entire PIERER Mobility team, face significant challenges. We see these challenges as an opportunity for a fresh start, to lead the company towards a successful and sustainable future.

 

Yours sincerely,

Stefan Pierer
Gottfried Neumeister

PIERER MOBILITY
As the leading European manufacturer of powered two-wheelers, PIERER Mobility AG offers a broad selection of premium brands, including performance motorcycle brands such as KTM, Husqvarna Motorcycles and GASGAS. PIERER Mobility continuously develops a comprehensive range of e-bike and bicycle products through the Husqvarna E-Bicycles, GASGAS Bicycles, FELT Bicycles and R Raymon brands. PIERER Mobility produces high-end components under the WP brand, and manufactures and distributes high-end sports cars via its KTM X-BOW division.
 

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