Is the dust finally settling around everyone's favorite Austrian motorcycle manufacturer at last? While there are undoubtedly some further shifts and changes to be expected, at least one thing is clear, as of November 18, 2025: Bajaj Auto International Holdings BV (BAIH), which is a wholly-owned subsidiary of Bajaj Auto Limited, has officially acquired all 50,100 shares of Pierer Bajaj AG (PBAG, and once more, I'm not making that acronym up).
Now, the full structure of all the subsidiaries that previously stood over KTM may not immediately be present in your mind, which is totally fair. I've described it as a corporate nesting doll on more than one occasion, and I see no reason to change that description now because it's pretty helpful to wrap your brain around it all.
As it previously stood, Pierer Mobility AG and KTM were both previously subsidiaries of PBAG. Therefore, Bajaj's full takeover of PBAG also means that Bajaj now officially has a full controlling stake in both PMAG and KTM. Or, the TL;DR version, once we've fully reduced our equation down to just the essential summation: Bajaj is now officially in charge of KTM. It's not a matter of time anymore; it's happened.
