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Tuesday 4 April 2023

News Briefs



Former H-D subsidiary MV Agusta Motor S.p.A. has announced the final resolution of the creditor agreement ("Concordato Preventivo in Continuit√† Aziendale") that arose from its 2017 filing. December 29, 2022 saw a Court in Varese declare that the procedure was resolved, after having ascertained that all outstanding debt with creditors and all obligations under the composition had been entirely settled. The Sardarov family have been supporting MV Agusta financially since 2017 and took control of the company four years ago. Since 2017, they have injected more than € 180m in order to restructure all of the business practices, pay off all debt under the procedure, support MV Agusta's day to day operations "and make sure that the company has a solid business plan for the future growth." The arrival of the new partner, KTM AG, a company of PIERER Mobility AG, proves that MV Agusta was put on the right path and marks a new positive development under the leadership of CEO Timur Sardarov, who is adamant that a difficult phase in the company's history is officially over - "the dark days are over," he said. 


Former Executive VP of Operations Alex Acket has been promoted to COO of Scotts Valley, California based Zero Motorcycles. "In conjunction with our recent raise of $167m, and in light of our recent partnership announcements, Zero is reconfiguring its business for greater efficiency and profitability," said Sam Paschel, Zero Motorcycles CEO.


Internationally respected Dutch apparel manufacturer REV'IT! Sport International will return for a second year as the title sponsor of MotoAmerica Twins Cup Championship for 2023. 


AMA Pro Racing has announced Gene Crouch, COO since 2020, as CEO. Crouch joined the company when it was founded in 2008. "He's spearheaded several critically important initiatives, including developing AMA Pro Racing's industry-leading timing and scoring as well as the innovative FansChoice.tv livestreaming service. Crouch has also played a critical role in securing major sponsorship and media rights agreements for the series brands that are operated out of the company's Daytona Beach headquarters, including Progressive American Flat Track and American Hillclimb." Crouch takes the baton as CEO from predecessor Michael Lock.


BMW has named Namibia as the host nation for its 22-team GS Trophy in 2024. There will be 15 national qualifying rounds, and the first international qualifying round for an international team is slated for 2023 BMW Motorrad Days at Berlin, July 7-9, 2023. This will be the 9th GS Trophy; 2022 was staged in Albania. 


Curtiss Motorcycles has announced a "120 Year Anniversary Collection" - a special curation of limited-edition color and material treatments for its debut flagship model, 'The 1' by Curtiss. Limited to 120 examples, 'The 1' is offered in raw, as-machined 6061 aircraft-grade billet aluminum with pigment-free seat hide and contrasting chassis panels in one of five classic color choices: French Blue, Bayou Green, Crimson Red, Tiger Yellow or Pure White. "In 1902, our inspirational founder, Glenn Hammond Curtiss, invented the iconic American V-twin motorcycle," noted Curtiss CEO and co-founder Matt Chambers. "Today, 120 years later, we are proud to introduce the 120 Year Anniversary Collection in honor of Glenn's historic achievement." 


The Taiga Orca Carbon electric watercraft has been awarded a Popular Science 2022 Best of What's New Award. The awards featured the 100 top inventions across ten categories, with Orca Carbon judged the winner in the Sports & Outdoors category. 


Damon Motors (Vancouver, BC), the "premier EV motorbike company," says it is approaching $100m in orders and has formed a partnership with PT Indika Energy Tbk., Indonesia's leading diversified energy company. Indika has also made an undisclosed investment in Damon and will serve as the distributor for Damon's line of motorcycles in the Indonesian market. Best known for its HyperSport and HyperFighter E-sports bike designs, the partnership with Indika will see Damon develop a new global motorcycle platform specifically for the needs of commuters in geographies such as Indonesia that are dominated by two-wheel mobility; www.damon.com


Sources: AMD, IDN, FT, Reuters, PSB, MPN, BDN, MCN, AP, Bloomberg, MSNW, Electrek, electricmotorcycles.news, RideApart.com, Motor1.com, Cycle World, motorbikewriter.com