The Piaggio Group announced it has secured a €60 million (US$77.6 million) financing deal with the European Investment Bank to fund the development of new products. The seven-year loan will fund research and development projects at Piaggio’s Italian facilities. The loan is in addition to investments Piaggio already budgeted for the period from 2013 to […]
Guzzi World Days 2011: Moto Guzzi Celebrates 90th Birthday
A record crowd of over 20,000 landed in Mandello del Lario, Italy, for Giornate Mondiali Guzzi (Guzzi World Days) to celebrate Moto Guzzi’s 90th anniversary.
The first Guzzi World Days event since 2007, the three-day celebration attracted thousands of enthusiasts representing about 52 different countries around the world.
Visitors got to see the restoration efforts on historic Moto Guzzi landmarks including its famous wind tunnel, the first to be used by a motorcycle manufacturer to test aerodynamics. Celebrants also got to see the special 90th anniversary edition of the Moto Guzzi California.
Roberto Colaninno, chairman and chief executive officer of Moto Guzzi’s parent company, Piaggio, addressed those in attendance about the current state of Moto Guzzi. Colaninno told the crowd Piaggio is investing over 40 million euros (US$54.8 million) into Moto Guzzi over the next five years, on top of the investments to the Mandello del Lario plant. According to Colaninno, Moto Guzzi sold over 4,300 motorcycles in the first eight months of 2011, a 31% increase from the same period in 2010.