Piaggio Group is a massive organization. The group is comprised of Aprilia, Moto Guzzi, Vespa, and other brands, and rakes in a lot of money, so I was a bit surprised to learn that the company secured a $60 million loan in the wake of the Coronavirus pandemic.
Piaggio Group isn’t in financial trouble. The company is massive and can weather an economic storm like the one that accompanied COVID-19. However, the virus has put a lot of stress on the company’s various brands, and the $60 million will help keep the development of new products and technology on track.
Banca MPS and Cassa Depositi e Prestiti are the underwriters of the loan. According to RideApart, the underwriters made it clear that these loans are designed to help otherwise thriving companies get back on track as quickly as possible now that the worst of the COVID-19 pandemic is passed.
The loan is officially designed to “support the Piaggio Group in its investment plan in the research and development of innovative technology and product solutions.” That