2023-07-06 05:01:12
EQS-News: PIERER Mobility AG / Key word(s): Strategic Company Decision
PIERER Mobility und CFMOTO strengthen its cooperation
06.07.2023 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Corporate News
Wels, July 6, 2023
PIERER Mobility und CFMOTO strengthen its cooperation
• Expansion of the joint venture with CFMOTO in China
• Increase of shareholding in PIERER Mobility AG to 2,0%
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 %.
About CFMOTO:
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:
Investor Relations
Melinda Busáné Bellér
Tel.: +43 (0) 1 533 1 433 – 70
Email: [1]ir@pierermobility.com
Corporate Communications
Elisabeth Gritzner
Tel.: +43 7742 6000 -711
Email: [2]media@pierermobility.com
Website: [3] www.pierermobility.com
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06.07.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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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: SIX, Vienna Stock Exchange
EQS News ID: 1673665
Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PMAG, Bloomberg: PMAG
SE Archyde.com: PMAG.S
1673665 06.07.2023 CET/CEST
References
Visible links
1. ir@pierermobility.com
2. media@pierermobility.com
3.
1688621341
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