KTM’s woes updated after Friday’s regional court ruling
KTM says it will “not take its foot off the accelerator” until 2025, amid the existing currency crisis, after Friday’s regional court ruling said the company could simply continue in its current form.
The Austrian automaker has racked up debts of at least 1. 8 billion euros, according to an ORF report on Friday, after filing for bankruptcy last month.
Hundreds of employees have been laid off and another 300 layoffs are expected, down from the 500 initially planned through KTM.
Production has been halted until the end of February, while staff will have to wait until at least the end of January to receive their November and December salaries.
On Friday, in a Regional Court hearing, KTM was allowed to continue in its current form, while three parties have expressed interest in investing up to €700m as it presses on with its restructuring.
A creditors’ meeting will take place on 24 January, while its restructuring plan will be voted on at the end of February.
Little has been officially said about KTM’s allocation in MotoGP for 2025, senior logo officials have said in the past that the program will continue as planned.
This was then followed up by media rumours of a development freeze for the 2025 RC16.
KTM has released a statement on the current situation suggesting it remains committed to its racing endeavours in 2025, but doesn’t directly mention MotoGP.
The complete one is the following:
“‘READY TO RACE’ is more than a slogan for KTM. It defines our existence. In competition, there are highs and lows, daring and disappointment, and victory and defeat. 2024 has been a year of conquests but also challenges for the company.
“Looking ahead to 2025 and beyond, there will still be bumps, ruts and bumps, but we are letting off the accelerator.
“2024 has been a remarkable year for KTM, marked by bold innovation, thrilling victories, and unwavering customer dedication. While challenges are part of any great journey, we see them as an opportunity to accelerate toward an even brighter future.
“It is no secret that KTM AG operates in a changing economic landscape. However, as our “READY TO RUN” mantra suggests, we use this time to realign, refuel and revitalize.
“KTM remains fully committed to delivering exceptional reports to our current and long-term customers. We will continue to vibrate and return to the most sensible step of the podium.
“Racing is where we showcase our brand, our engineering and our love of hunting. Over the last year, our motorsport teams have continued to achieve wonderful things. We end the season with an impressive 341 FIM World Championship titles.
“The globe-trotting calendars involved more than 1,480 race starts and brought us 246 podiums and 150 wins across various disciplines. Of course, there were hardships and injuries—these go with the turf—but KTM impressively added 11 more hard-fought titles to the record.
“Outside of racing, the KTM logo has also been incredibly active this year. The logo presented 59 new models, made 3 launches in foreign media in the presence of 152 media partners, effectively organized 3 visitor events with 283 attendees, and returned to EICMA, the world’s largest motorcycle fair, with a huge booth of 1,635 m² and 17 new models. KTM products.
“There’s been strong momentum behind those new bikes, as well as efforts to ensure we keep our momentum in the right areas. KTM is applying the same forward-thinking technique in this restructuring phase.
“Our goal over the next 90 days is to stabilise the business while setting the foundation for sustained growth and success.
“During this period, KTM promises the continuity of motorcycle deliveries through our network of KTM legal dealers. The same applies to our spare parts, technical accessories, visitor service and warranties that remain unchanged, ensuring uninterrupted and flawless assistance during this period.
“The work and preference for creating the latest bold, extreme and adventurous motorcycles continues. KTM is launching a pair of highly anticipated models, which will be in racer showrooms in the first quarter of 2025. This, once again, shows our commitment to remaining one of Europe’s leading motorcycle brands. in the future.
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