Click it and Unblock the Notifications
Just In
Don't Miss!
-
Cipla To Buy Ivia Beaute's Cosmetics, Personal Care Distribution And Marketing Biz For Rs 130 Cr -
Kamada Ekadashi 2024 Mantras To Chant On This Auspicious Day To Fulfill Desires -
Lok Sabha Opinion Poll For Odisha: How Many Seats Will BJP & BJD Win, This Time? -
Sony PS5 Pro Specifications, Features, Launch Timeline Tipped: Could Get Big GPU Upgrade -
KKR vs RR IPL 2024: Four Bowlers Who Will Pick Maximum Wickets in Kolkata vs Rajasthan? -
Vijay Antony's Romeo Box Office Collection Day 6 Prediction: Vijay Antony's Romcom Maintains Steady Pace -
NEET PG 2024: Check the Registration and Exam Date Here -
Maximise Your First Indian Adventure With These Travel Tips
Daimler To Most Probably Buy Into MV Agusta On 3rd November, 2014
Daimler AG is based in Stuttgart, Germany and they are the 13th largest car manufacturer in the world. They were earlier rumoured to be buying stakes in a two-wheeler manufacturer. Their plan is to purchase stakes in Italian automotive brand MV Agusta.
The MV Agusta motorcycle brand has been struggling for a while, during these tough economic times. They have recently launched their new naked bike the Dragster 800. The Italian based motorcycle manufacturer will also be showcasing a new generation of products at the upcoming EICMA motor show.
The German automobile giant, Daimler AG will be buying roughly 25 to 30 percent stakes in MV Agusta. An official announcement is expected during EICMA motor show. They will be buying the stakes through their AMG brand and will be spending over 30 million Euros.
Daimler will have an open option of increasing its stakes in the company, as part of investment as well. In previous times MV Agusta has changed hands several times. They have partnered with Harley-Davidson and Proton from Malaysia.
In the end, MV Agusta was purchased by an Italian family of Castiglioni. Claudio Castiglioni turned around the company with the launch of its F4. It is currently headed by his son Giovanni Castiglioni, who believes partnership with other companies can boost their company to the top once again.
Daimler to will benefit from the partnership as they would get access to the technology used in the Italian motorcycles. MV Agusta is popular for their current generation of three-cylinder motorcycles. The German company could also help MV Agusta to further spread their sales in countries that they don't exist in so far.
