Published on November 3rd, 2014 | by Daniel Sherman Fernandez0
MV Agusta Used To Be Owned By Proton, Now Mercedes Owns It
MV Agusta largely disappeared in the 1970s and its rebirth in 1992 under motorcycle entrepreneur Claudio Castiglioni and renowned designer Massimo Tamburini created the F4 superbike, one of which belonged to King Juan Carlos of Spain and was loaned out to the Guggenheim Museum for an exhibit.
In the past 10 years, however, the brand has repeatedly come under financial duress and gone through several owners that included Harley-Davidson and Malaysian state-owned carmaker Proton. It was bought back in 2010 by Castiglioni shortly before he died, and is now run by his son. The motorcycle maker, with 260 employees at its headquarters on the shore of Lago di Varese in northern Italy, has a product portfolio of three- and four-cylinder models ranging from 675 to 1100 cubic centimetres engine displacement.
Tobias Moers, chief executive of Mercedes-AMG, said: “In MV Agusta, we have found the perfect two-wheel partner for Mercedes-AMG. The partnership provides us with an entry into a world of additional high-performance enthusiasts.”
Giovanni Castiglioni, president and CEO of MV Agusta, said: “Mercedes-AMG will help MV Agusta to further expand globally and to accelerate our growth.”
Earlier this month, sources told Reuters that Daimler was in talks with MV Agusta about taking a stake. The partnership is subject to the approval of the relevant authorities, expected to be granted in late November.