MV Agusta announced a 30M€ share capital increase to support a 5-year plan for growth of the company, confirming their expansion to electric models.
MV Agusta is taking a path towards electric mobility, as stated in their press-release, the company has a 5 year business plan to grow worldwide. The capital share increase at the sum of €30M, will bring the company to an equity of total €70M.
The company is setting its plan for the coming 5 years, focusing on the development of the new engines and models, particularly the brand’s expansion into new segments, such as adventure, electric recreational and urban mobility. On top of those the company will strengthen its global sales network.
Owned by the Sardarov family, which are the sole shareholder of the company since 2019, MV Agusta had more than 150M€ in funds that injected into the business to support operations and the investments of the new industrial plan. This was a full rescue and recovery plan for the company, that allowed the operation to continue, and the legacy of the great brand to push forwards.
“One of my first objectives was to put an end to the financial stress the Company had been experiencing and lay the industrial and commercial structures for growth. Today all these objectives have been reached in full and now we can look at the future with renewed confidence while we continue to move from one successful product to another.
This capital injection will literally boost our business on all fronts, from the design, development and production of new stunning bikes to the providing of world-class service to all our customers, to expanding our 3.0 worldwide dealers network. In 2021 we expect to exceed 100M€ revenues for the first time in our history and to triple our performance within the next 3 years.”
Timur Sardarov, CEO of MV Agusta Motor S.p.A.
The initiative will also mark the final (and early) settlement of all its obligations under the “composition with creditors”(“concordato preventivo in continuità aziendale” in Italian law). An very positive achievement which was made possible thanks to the relevant support of MV Agusta’s shareholders.
“MV Agusta is a great brand with a prestigious heritage. It’ s always had very attractive products that everybody appreciates for their unique design, high performance and advanced technology. That’s why today I see a great potential in the Company, which hadn’t seen in the past years. We have finally created the conditions to allow MV Agusta write a new successful chapter in the history of motorcycling.”
Massimo Bordi, Vice Chairman of MV Agusta Motor S.p.A.
And until now, while fans of MV Agusta were anxiously waiting for statements, one designer rendered some concept ideas on the potential electric models they may produce. Will they actually look like that? Time will tell, but these renders by Rajesh Sriram are great.
“IN 2021 WE EXPECT TO EXCEED 100M€ REVENUES FOR THE FIRST TIME IN OUR HISTORY AND TO TRIPLE OUR PERFORMANCE WITHIN THE NEXT 3 YEARS”
Timur Sardarov, CEO of MV Agusta Motor S.p.A.
Source: MV Agusta, Electricvehicleweb