Monday, July 22, 2024
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CASTIGLIONI BACK ON BIKES

Mercurial former MV Agusta supremo Giovanni Castiglioni has reappeared in the powered two-wheeler firmament as a leading investor in Australian manufacturer Stealth Electric Bikes. Ousted from MV Agusta two years ago when Russian oligarch’s son Timur Sardarov bailed the business out of bankruptcy, Castiglioni now heads up C-Creative, which has become a “new shareholder” of Melbourne-based Stealth.

Up until this point, Stealth concentrated on off-road-only products that were essentially high-powered electric MTBs with vaguely motocross styling. But thanks to C-Creative input, Stealth says it is launching an industrial growth plan based on a new range of dual-purpose and L1e-B urban mobility machines that will be road-legal.

These are being engineered and styled by C-Creative’s Adrian Morton, the former MV Agusta chief designer who was also shown the door by Sardarov shortly after Castiglioni’s departure.

“This is a key moment for the future of our company and I’m excited to have joined forces with such an experienced team,” commented Stealth chief executive John Karambalis. “New developments in the market have prompted us to broaden our horizons and shape the future of the recreation and mobility sectors across the globe.”

Castiglioni added: “I have been a Stealth customer for several years now and I have never found anything more exciting in the e-bikes scene. Stealth is a brand that has a unique charm and charisma, and the C-Creative team is thrilled to be able to bring decades of experience in the world of two wheels to this company.”

Further to its tie-up with C-Creative, Stealth has also established a new strategic commercial partnership with Vmoto Soco Italia, the Italian distributive subsidiary of leading electric PTW player Vmoto Soco International for the Super Soco, Vmoto and E-max brands.

This will see shared resources across marketing, sales and aftersales management, aimed at increasing market share in the L1 moped and L3 motorcycle segments for their respective brands in Italy and subsequently the rest of Europe.

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