PIERER Mobility and CFMoto deepen ties
PIERER Mobility, the parent company to KTM, Husqvarna and GasGas, has announced it is "strengthening its cooperation in the areas of product strategy, development and industrialisation".
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 organisation in these markets - production capacity is to be increased from currently 50,000 to 100,000 units".
PIERER Mobility and CFMoto have been partners for nearly 10 years - CFMoto is the production and sales partner for KTM motorcycles in China. "In recent years, it has expanded its capacities and supply chain to meet the needs of our relationship," 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, including in sales, is a further development of our consistent cooperation. It is 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 has increased its stake in PIERER Mobility AG stock to 2.0 %. Founded in 1989, ZHEJIANG CFMOTO POWER CO., LTD. sells through more than 3,000 dealers worldwide.
