Indian manufacturing giant Mahindra has bought out the world’s oldest scooter manufacturer, Peugeot Motorcycles.
Mahindra already has a motorcycle manufacturing division in India, along with plenty of heavy equipment, and also owns the rights to the Jawa and BSA marques, sort of. When you dig down into the behind-the-scenes details of these deals, there’s always much talk of partnerships and controlling interests and so on, but the basic facts are that Mahindra controls these companies, even if it’s through subsidiaries.
Mahindra has already been in control of Peugeot Motorcycles for a few years as well, having bought 51 per cent of the company in 2015.
So far, there hasn’t been a pile of information released about this week’s deal, which sees Mahindra now owning the entirety of the Peugeot Motorcycles business. The financials haven’t been widely publicized. However, as part of the deal, Mahindra has reportedly agreed to keep the Peugeot name alive; it won’t be rebranding current Peugeot designs as Mahindra vehicles. Instead, the deal is supposedly intended to revitalize the Peugeot brand in Europe. To that end, Mahindra says it plans to release seven new bikes (scooters or motorcycles, it’s a little unclear which?) under the Peugeot name in the next two years.
Currently, Peugeot has a range of step-throughs ranging from 50-125 cc, as well as a 300 cc three-wheeler scooter. Although it’s a non-factor in the North American market, its scooters still sell well in the EU.
For now, Peugeot has a lot of manufacturing going on in China, and again, there’s no word as to whether the new deal will see that business move to India.