Less than two years after its initial launch at Eurobike in 2017, Pexco GmbH is set to be taken over by Pierer Industries AG.
Pexco was founded through a joint venture between KTM Industries and the Puello family, with its mission to develop technology and solutions for the field of zero emission lightweight vehicles, in particular e-bikes and bicycles.
KTM Industries CEO Stefan Pierer said in a statement that the company is accelerating plans to take over Pexco and expects full control by 2021.
Susanne Puello, Managing Director of Pexco, told Velobiz (via BikeEurope): “We need to build more capacity and human resources in the areas of design, development, engineering, quality management and service in a timely manner in order to position ourselves in a strong competitive field.
“Especially in quality management and service we were facing challenges in recent weeks. This also goes hand in hand with being able to respond to the increasing needs and requirements of specialist retails partners. We only want to take this next step together with our specialist dealers.”