It’s just been announced that Mahindra Two Wheelers has taken full control of Peugeot Motorcycles.
The Indian based Mahindra Two Wheelers group has held a 51% stake in the French manufacturer since 2015 – but it’s just been revealed that it’s taking full control. Moving forward the plan is to strengthen the presence of the brand in Europe, while at the same time expanding reach into new markets – with the introduction of seven new machines over the next two years.
Despite the sale, it’s worth noting that Peugeot Motorcycles’ HQ will be staying in Mandeure in France – with the existing staff continuing to look after the running of the company.
Speaking about the acquisition, Rajesh Jejurikar, President – FES & Two Wheelers & Member of the Group Executive Board, Mahindra & Mahindra Ltd., said: “We are seeing positive momentum at Peugeot Motocycles. Kisbee becoming the largest selling 50cc vehicle in Europe, Peugeot Metropolis getting stronger in Europe and China, the positive market response to the new launch of the Urban GT connected Pulsion, are all cases in point. We fully support PMTC’s Performance 2020 and look forward to the future with enhanced optimism.”
Jean-Philippe Imparato, Peugeot Brand CEO, added: “This decision by the shareholders will ensure that Peugeot Motocycles benefits from the expertise of a significant global player in the two wheelers industry. We at Peugeot will maintain our commitment through our utilisation of the Peugeot brand and extend our support to design and technological innovations.”
Mahindra’s been busy over the last few years – and Peugeot’s a great addition to its stable, alongside its acquisition of the rights to sell BSA, Jawa and Yezdi motorcycles in the Indian market through its subsidiary Classic Legends.
For more information on Peugeot’s full range, click HERE.