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Bajaj takes over KTM parent Pierer Mobility: change at the top!
Bajaj takes control of Pierer Mobility, KTM's parent company, and relocates its headquarters to Mattighofen.
Bajaj takes over KTM parent Pierer Mobility: change at the top!
The Indian automobile group Bajaj today took control of the parent company of the KTM brand, Pierer Mobility AG. By acquiring all shares in the Pierer Bajaj joint venture, Bajaj now holds 74.9 percent of the shares and is therefore the controlling majority shareholder. This significant transfer of shares was officially completed on Tuesday after the takeover board and the EU Commission gave the green light. Bajaj also secured the survival of the insolvent KTM with a financial injection in the spring. In return, it was agreed that Bajaj would take control of Pierer Mobility, as vienna.at reports.
Pierer Mobility's new management structure will change significantly. At the extraordinary general meeting, which will take place on Wednesday, all supervisory board members nominated by former CEO Stefan Pierer will resign their mandates. These positions are to be filled by new board members from the Indian camp led by Rajiv Bajaj, signaling a complete change in leadership. The company's headquarters will also be relocated from Wels to Mattighofen (Braunau district), as vol.at confirms.
Strategic realignment and market relocation
This acquisition provides Bajaj with the opportunity to leverage synergies with existing manufacturing facilities in India. Due to high cost pressure, production could increasingly be relocated to India and China. Despite these strategic changes, the company remains focused on European development, especially for the core brand KTM. According to a KTM spokesperson, this move is seen as an “evolution of the global growth strategy” and not a departure from European origins, as 1000ps.com notes.
Pierer Mobility not only includes the motorcycle division, but also brands such as Husqvarna and GASGAS as well as e-mobility divisions such as FELT and R Raymon. In the future, the company plans to divest itself of the bicycle brands to focus more on its core operations. With Bajaj's new control, Pierer Mobility is expected to undergo an accelerated transformation while adapting to global market challenges.