KTM Confirms Investment from Long-Time Partner Bajaj
KTM had until this Friday (May 23) to deposit approximately $600 million with its insolvency administrator. Earlier this week, we learned KTM received a $632 Million loan by long-time partner Bajaj Auto. This afternoon, KTM confirmed this news, via a press release.
The following press release is from KTM:
KTM Secures Investor and Charges Ahead Into The Future
KTM is proud to announce a major milestone: after months of dedicated effort and strategic planning, the KTM AG was able to expand its relationship with its long-standing partner Bajaj and secure them as a main investor.
Gottfried Neumeister, CEO, KTM AG:
"Today we have been given the opportunity to continue the history of KTM. Together with our long-standing partner Bajaj, we were able to work out a strategy that will enable us to raise a further 600 million euros for our new start in addition to the 200 million euros already made available. The existing sites - in particular our main plant in Mattighofen/Munderfing - will remain the basis for our future success. This means that we will continue to be an important employer for the entire region. In view of this new, second opportunity, we at KTM feel deep gratitude and humility towards all those within and outside our group of companies who have made it possible. I would also like to take this opportunity to thank Stefan Pierer on behalf of all those who have accompanied us along the way. He laid the foundation for one of the world's best-known motorcycle brands, which has a unique community."
With renewed energy and unstoppable momentum, KTM is going full throttle into its next chapter.
More information about the corporate details behind this exciting development can be found in the official corporate press release HERE.
For a glimpse into KTM’s bright future, click HERE.
