A brand which once lead the Indian charge at the world stage of motorcycle racing, until now, Mahindra Racing has been the only Indian team to compete in the Moto3 category of MotoGP. However, this brave exercise did little to help the brand’s two-wheeler sales in India. Although the Mojo still has its own fan following, Mahindra Two-wheelers’ commuter products were largely forgotten. Shifting gears, Mahindra then bought ownership of Jawa and BSA, two legendary names, where the former has already started dishing out motorcycles, while the latter is yet to begin. Mahindra Two-wheelers also owns a 51% stake in Peugeot Motocycles, which is a popular brand in Europe and elsewhere. The Indian giant is now looking to acquire full ownership of the French brand, by buying out the remaining 49% share.
Until now, Peugeot and Mahindra had unveiled a ‘Performance 2020’ plan in 2018, as a part of which, 7 new Peugeot two-wheelers would be launched between 2019 and 2021. The plan also outlined the company’s growth, where it would be introduced in new Asian markets and its position strengthened in existing ones. Brand Peugeot is about to unveil its new range at the upcoming EICMA 2019 on the 5th of November, where some of these aforementioned products could be displayed. Peugeot’s current range includes scooters in the 50cc – 200cc space and the Metropolis 3-wheeled scooter. France will continue to remain a major market for Peugeot and even after this acquisition, it will still be headquartered at Mandeure in Eastern France.
Speaking about the acquisition, Rajesh Jejurikar, President – FES & Two Wheelers & Member of the Group Executive Board, Mahindra & Mahindra Ltd., said, “We are seeing positive momentum at Peugeot Motocycles. Kisbee becoming the largest selling 50cc 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. We fully support PMTC’s Performance 2020 and look forward to the future with enhanced optimism.”
Jean-Philippe Imparato, Peugeot Brand CEO, added, “This decision by the shareholders will ensure that Peugeot Motocycles benefits from the expertise of a significant global player in the two-wheelers industry. We at Peugeot will maintain our commitment through our utilization of the Peugeot brand and extend our support to design and technological innovations.”