PIERER Mobility AG

M&A Activity • Mar 25, 2021

News Details

Corporate | 25 March 2021 17:45

PIERER Mobility AG: PIERER Mobility and Bajaj Auto strengthen its E-Mobility cooperation

DGAP-News: PIERER Mobility AG / Key word(s): Strategic Company Decision

25.03.2021 / 17:45

The issuer is solely responsible for the content of this announcement.

Corporate News 25th March 2021

PIERER Mobility and Bajaj Auto strengthen its E-Mobility cooperation

PIERER Mobility AG, Europe’s leading manufacturer of powered two-wheeler vehicles, and Bajaj Auto Limited, India’s second largest motorcycle manufacturer, are strengthening their strategic cooperation in the development of electric products in the two-wheeler sector to meet the growing demand for innovative e-mobility concepts.

PIERER Mobility AG and Bajaj Auto Limited originally joined forces to make a sizeable and relentless footprint in the international motorcycle industry and, as the partnership successfully reaches almost fifteen years of existence, the two companies have decided to jointly explore the zero tailpipe emissions, low maintenance, and long-lasting benefits of light electric vehicles in urban settings and dense metropolitan areas.

This renewed strategy will centre on the development of common electric platforms to deliver the advantage of scale, regarding all critical components, allowing both companies to quickly and effectively adapt to evolving customer needs globally. Part of this remit involves an open approach to all battery opportunities, aiding the parallel advantage of both fixed and swappable solutions.

Moving at pace, the initial output from this manufacturing impetus will see the first of these shared platform vehicles beginning of 2022.

About the Group

The PIERER Mobility Group is Europe’s leading manufacturer of “powered two-wheelers” (PTW). With its motorcycle brands KTM, HUSQVARNA and GASGAS, it is one of the European technology and market leaders, especially for premium motorcycles. In addition to powered two-wheelers equipped with combustion engines or innovative electric drives, the product portfolio also includes e-bicycles. As a pioneer in electromobility for two-wheelers in the low-voltage range (48 volts) the group and its strategic partner Bajaj have the prerequisites to assume a leading global role. The acquisition of PEXCO’s e-bicycle business was another important step in intensifying activities in the field of two-wheeled electromobility. E-bicycle activities will be promoted under the brands HUSQVARNA E-Bicycles, R Raymon and GASGAS E-Bicycles in order to participate in the attractive market growth of the e-bicycle segment and to become a major international player there. Thanks to our innovative strength, we see ourselves as the technology leader in the two-wheeler sector in Europe. The partnership with Bajaj, India’s second largest motorcycle manufacturer, strengthens competitiveness in global markets.

Contact:

Investor Relations

Mag. Michaela Friepeß

Tel.: +43 (0)7242 / 69402

Email: ir@pierermobility.com

Website: www.pierermobility.com

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25.03.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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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:	Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1178624

Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PMAG, Bloomberg: PMAG SE, PMAG GY Reuters: PMAG.S

End of News	DGAP News Service