Austrian bike manufacturer KTM has secured funding for its restructuring plan, with Indian company Bajaj Auto officially named as the main investor.
With Bajaj's €450million loan to KTM AG (and a further €150million granted to KTM parent company Pierer Mobility AG), the announcement concludes KTM's restructuring process, which had been necessary to save the company after it entered self-administration last year due to massive debts.
Long-time KTM boss Stefan Pierer, who had given up his role as company CEO earlier this year, has now also left the board of directors of Pierer Mobility AG. Gottfried Neumeister, who had replaced him as KTM CEO, will remain in the role.
"Today we have been given the opportunity to continue the history of KTM," Neumeister said in a KTM statement.
"Together with our long-standing partner Bajaj, we were able to work out a strategy that will enable us to raise a further €600million for our new start in addition to the €200m already made available.
"The existing sites - in particular our main plant in Mattighofen/Munderfing - will remain the basis for our future success. This means that we will continue to be an important employer for the entire region."
The announcement made no mention of KTM's motorsport activities, and thus none of its MotoGP programme specifically.
It remains delicate timing for the manufacturer's premier-class efforts, with a decision presumably still looming over whether KTM will continue into MotoGP's next regulations cycle starting in 2027 - which would require the development of an all-new bike around an all-new 850cc engine.
Bajaj, which is claimed to be India's leading motorcycle exporter and the world's fourth-largest motorcycle manufacturer behind Honda, Hero and Yamaha, does not have a major presence in international motorsport as it stands.
