M&M to acquire 100% stake in Peugeot Motorcycles

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Published: October 26, 2019 12:24 AM

Mahindra Two Wheelers Europe and the Peugeot Motors team had in July 2018 announced the Performance 2020 plan to grow the company’s operations and drive its growth in core markets such as Europe and also expand into new geographies, including select Asian markets, the company said.

The Peugeot design teams will continue to assist in the design and development of the products in close cooperation with the Peugeot Motorcycles management and the Mahindra Group, the company said in an exchange filing.

Mahindra Two Wheelers Europe, a subsidiary of Mahindra & Mahindra, on Friday announced that it would acquire 100% stake in French two-wheeler major Peugeot Motocycles, which is part of the European PSA Group.

“We are seeing positive momentum at Peugeot Motocycles. Kisbee becoming the largest selling 50 cc 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,” said Rajesh Jejurikar, president, FES and two-wheelers, Mahindra &Mahindra.

The Peugeot brand will continue to be used in the future under the trade licence agreement between Peugeot Motorcycles and Peugeot. The Peugeot design teams will continue to assist in the design and development of the products in close cooperation with the Peugeot Motorcycles management and the Mahindra Group, the company said in an exchange filing.

The $20-billion Mahindra Group had in 2015 acquired 51% equity stake in Peugeot Motorcycles. Mahindra Two Wheelers Europe and the Peugeot Motors team had in July 2018 announced the Performance 2020 plan to grow the company’s operations and drive its growth in core markets such as Europe and also expand into new geographies, including select Asian markets, the company said.

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