MANILA, Philippines – Good news for the Philippines, Austria-based KTM Group will construct a manufacturing facility in the Philippines – producing motorcycles for the Chinese and Southeast Asia market.
The announcement comes with a partnership agreement with Ayala Corporation – the joint venture will bring one of the world’s leading motorcycle manufacturers to the Philippines, an inviting surprise to many.
Ayala Corp. said it will serve as the exclusive distributor of KTM products within the country. They will also be the ones to set up the manufacturing facility, building a wide range of off-road and street motorcycles for upscale buyers in Asia.
Chief Executive Office of KTM, Stefan Pierer gave the following statement:
“We are delighted to have found a strong and capable Asian partner in the Ayala group, one of the leading conglomerates in the Philippines, a country we view as a key platform for achieving our global growth strategy. Ayala’s capabilities in manufacturing, distributorship and dealership, as well as its regional expertise and excellent reputation, make them the ideal strategic partner for our READY TO RACE aspirations. We look forward to a long and fruitful relationship and plan to rapidly grow KTM and its brands across Asia” Ayala Corporation President and COO Fernando Zobel de Ayala adds, “We are very excited to introduce KTM and its lineup of outstanding performance motorcycles to the Philippines. For decades, KTM has been at the forefront of motorcycle engineering and technology, building vehicles that are “Ready to Race”. This venture will enhance our existing offerings under our automotive group and allow us to serve more of the country’s growing mobility needs.”
KTM will join the Ayala Automotive unit of the Philippines, that group includes Volkswagen, and several Honda and Isuzu dealerships in the country.
Jaime Augusto Zobel de Ayala, Chairman and CEO of Ayala Corporation also gave a statement on the merger agreement:
“This partnership is the first of many investments as we ramp up our manufacturing portfolio. Over the years, we have built a long track record of excellence in manufacturing and engineering. We believe that manufacturing should be a critical component for the country’s growth moving forward, providing thousands of jobs, creating numerous ancillary business opportunities, and helping drive inclusive growth for the Philippines.”
The agreement between the two giant companies is welcomed news for motorcycle enthusiasts throughout the Philippines.