PIERER Mobility AG Advances Restructuring with FELT Bicycles Sale

PIERER Mobility AG, soon to be renamed Bajaj Mobility AG, has sold FELT Bicycles to minority shareholders, advancing its restructuring efforts. This move aligns with the company's strategic focus on the motorcycle segment. Florian Burguet and Cesar Rojo, current managing directors and minority stakeholders, will assume full ownership of FELT, managing operations in Spain and North America.

The company has achieved pivotal restructuring milestones recently, including ending CFMOTO sales and divesting from MV Agusta and X-Bow. PIERER Mobility AG aims to streamline its motorcycle portfolio to three core brands: KTM, GASGAS, and Husqvarna. CEO Gottfried Neumeister emphasized that the sale of FELT contributes to a leaner, more focused company, enhancing its position as a leading motorcycle manufacturer.

The sale awaits approval from the Supervisory Board, with completion anticipated by year-end.