Saturday, October 24, 2009
Piaggio to invest 12 million euros towards the revival of Moto Guzzi
Roberto Colaninno, President of the Piaggio Group, recently announced that a new business plan is being worked out for Moto Guzzi and the company will be ready with some new bikes by 2011-12. Piaggio, which owns Moto Guzzi, was sanctioned a loan of 150 million euros from the European Investment Bank last year. Of this, about 12 million euros will be invested towards developing new bikes for Moto Guzzi.
Guzzi’s R&D activities will be moved to Piaggio’s facility in Noale, while production will continue at Mandello. The company, which currently produces around 3,500 bikes per annum, hopes to boost production to at least 4,500 bikes by 2010, at which point it will reach break-even point.
Established in the early-1920s, Moto Guzzi is one of Italy’s great, iconic motorcycle manufacturers who’ve fallen upon hard times. The company has produced some great machines over the years (we are great fans of the 1970s Le Mans 850) and we certainly hope Piaggio will be successful in resurrecting M-G.