- Acquires remaining 49 per cent stake of Peugeot Motorcycles
- Further invested 15 million pounds (around Rs 110 crore)
- Plans to introduce seven new products by 2021
After purchasing 51 per cent equity stake in Peugeot Motorcycles in January 2015, Mahindra & Mahindra has now announced the remaining 49 per cent acquisition of the French brand. Mahindra has now further invested 15 million pounds, which converts to Rs 110 crore, approximately.
The announcement mentioned that the new investment will be used towards the development of new products and expansion into new geographies which will also include select Asian markets. Furthermore, Mahindra plans to introduce seven new products under the Peugeot Motorcycles brand between 2019 and 2021.
As far as branding is concerned, future products will continue to keep the Peugeot name under the trade licence agreement between Peugeot Motorcycles and the parent company Peugeot. Besides that, the Peugeot design teams will continue to assist in the design and development of products, along with close cooperation between the Peugeot Motorcycles management and the Mahindra Group.
The current product portfolio of Peugot Motorcycles comprises of a wide range of products, the popular ones being the Kisbee – a 50cc moped, Metropolis – a three-wheeled scooter and the recently launched Urban GT – a maxi-scooter.
