MV Agusta Announces 30 Million Euros Capital Funding

MV Agusta has announced a capital increase of 30 million Euros in support of its five-year business plan, aimed at continuing the company's growth globally. With this fresh capital funding, MV Agusta's net worth is now 70 million Euros (over Rs. 627 crore under current exchange rates). According to MV Agusta, the new capital will "give a strong acceleration to the execution of the strategic plan, focussing on the development of new engines and new models, on the expansion into new segments such as leisure time and urban mobility, and the consolidation of the global sales network."

The Turismo Veloce Lusso SCS is powered by the 798 cc, 12-valve, in-line, three-cylinder engine with counter rotating crankshaft which makes 110 bhp at 10,150 rpm and 80 Nm of peak torque at 7,100 rpm.

Speaking on the latest round of capital funding, Timur Sardarov, CEO, MV Agusta SpA, said, "One of my first goals was to resolve the financial stress the company was experiencing and lay the industrial and commercial foundations for its growth. Today these objectives have been achieved, and we can now look to the future with renewed confidence, comforted by the success our new models are achieving. This capital injection will give our business an energy boost on all fronts, from the design to the development and production of new motorcycles, to the provision of first-rate assistance to all our passionate customers, to the expansion of our 3.0 dealers network. In 2021, we expect to exceed 100 million Euros in turnover for the first time in our history, and to triple this figure within the next 3 years."

MV Agusta is known for its premium, sport naked and sport bikes

Massimo Bordi, Vice President, MV Agusta Motor SpA, added, "MV Agusta is a great brand with a prestigious past. Its products have always been appreciated by all for their unique design and high performance, as well as for their advanced technology. This is why today I see great potential in this company, which I had not seen in past years. We have finally created the conditions to allow MV Agusta to write a new chapter in the history of motorcycling."

The 2021 MV Agusta Turismo Veloce 800 features a bigger windshield, shorter seat, and revised engine internals

The Sardarov family became the sole sharedholders of MV Agusta SpA in 2019, and since then, over 150 million Euros have been injected to finance MV Agusta's activities and make necessary investments for the new industrial plan. The company intends to expand into new segments such as adventure motorcycles, as well as electric and urban mobility. MV Agusta also has a tie-up with Chinese manufacturer Loncin, and that collaboration is set to spawn new small displacement motorcycle models, designed and developed by MV Agusta, but to be manufactured by Loncin in China, for the world.