FELT on the move again as Pierer New Mobility bets on eBikes
eBikes are the future – for Pierer New Mobility at least, as it has announced the divestment of its non eBike division, meaning that the FELT bicycle brand is on the move again.
This change in strategy is notable for a group focused on two wheeled mobility. Its full year 2021 report saw pedal powered bike sales rise 50%, with eBikes up 37%. Pierer New Mobility only bought FELT in 2021, the brand having only been in the hands of previous owner – the French Rossignol Groupe – since early 2017.
A consortium led by Florian Burget – who is currently on the Pierer Mobility AG board – is underway and expected to close in H1 2024.
Meanwhile R Raymon bicycle brand will also be flying the Pierer nest, with a sale already agreed, closing end of 2023. R Raymon will continue to be managed by Susanne and Felix Puello in a new independent set-up.
The strategic shake up will also sadly see 300 staff at its Austrian locations made redundant, with parts of production and certain R&D activities heading to strategic partner Bajaj Auto, India and CFMOTO, China. Pierer is frank and said “this is intended to exploit cost advantages in these regions and accelerate development and industrialisation processes”.
Pierer New Mobility’s eBike brand line-up will be promoted and expanded to “further strengthen activities in the field of electromobility”. The e-Mobility segment will include eBikes and other electric-powered two wheelers such as e-motorcycles, e-minis and stand-up scooters. The brand line-up includes KTM, Husqvarna Motorcycles and GASGAS.
