Mahindra & Mahindra Ltd’s subsidiary Mahindra Two Wheelers Europe will acquire 100% stake in Peugeot Motocycles (PMTC) headquartered in Mandeure, France. Earlier in January 2015, Mahindra Two Wheelers Europe had acquired a 51% equity stake in PMTC from PSA Groupe with the aim of growing the business. Mahindra Two Wheelers Europe and the PMTC team have worked together on reorganising and building the ’Performance 2020’ plan, which was unveiled in July 2018. The plan lays the foundations to strengthen the company’s operations in core markets such as the G7 (Europe) and expansion in select Asian markets. Under the plan, seven new products will be launched between 2019 and 2021. The brand’s presence in Europe will be fortified, with France remaining a major market and PMTC’s headquarters still based in its historical location, Mandeure. Peugeot brand will continue to be used in the future under the Trade License Agreement between PMTC and Peugeot. In addition, the Peugeot design teams will continue to assist in the design and development of PMTC products in close cooperation with PMTC management and Mahindra Group. For instance, the Peugeot 308 i-Cockpit technology was introduced recently with the launch of the Peugeot Pulsion in its two-wheeler version i-Connect. Mahindra Group has a diverse portfolio of businesses, including the Two-Wheeler Division and markets products under several brands including the Peugeot Brand. The transaction will be completed after due process. “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,” Rajesh Jejurikar, President FES & ‘two-wheelers’, and Member of the Group Executive Board, Mahindra & Mahindra Ltd., said.
