KTM To Exit The e-Bicycle Market

KTM’s financial woes are now forcing the company to take some tough decisions. The latest being pulling out of the e-bicycle market entirely in 2025. The brand will sell off the remaining stock of Husqvarna and GasGas e-bikes by 2025. It will also review its 70 per cent stock in the e-bike company, Felt. 

(Also Read: “Current Position Is Extremely Difficult But Need To Find A Sustainable Solution,” Rajiv Bajaj On KTM’s Financial Crisis)

This announcement comes after KTM’s parent company, Pierer Mobility revealed the preliminary results for 2024. The Austrian company has registered loss before tax to the tune of €1.28 billion (i.e approximately ₹12,302 crores). This was primarily because Pierer Group managed to sell 2,92,497 motorcycles last year, which was 21 per cent less than 3,72,511 bikes it sold in 2023. 

Out of the above number, 60,000 bikes were sold via Bajaj Auto, wherein the European market continues to form the biggest chunk of this total sales at 38 per cent. Meanwhile, North America makes up 24 per cent of KTM’s sales, while India and Indonesia cumulatively contribute to 21 per cent of KTM’s sales. 

(Also Read: Bajaj Comes To KTM’s Rescue, Lends ₹455.55 Crore To Recommence Production From Mid-March)

This financial result comes as Piere Mobility has set a deadline for itself to secure €600 million (i.e. around ₹5,764 crore) by the end of May 2025. Moreover, the company has also run out of components to continue manufacturing bikes, which the brand had started briefly from mid-March after it received fresh capital of ₹455.55 crore from its partners. Moving forward, KTM is planning to further cut down its workforce by another 750, and another 220 employees will be let go after the planned sale of MV Agusta.