KTM sells car division to Belgian brewing family

New owner from Belgium

The buyer appears to be the wealthy Belgian brewing family De Mevius, known for their interests in Inbev. This reports News Engine. The car brand is likely to come under the wings of investment company Verlinvest, with which the family also participates in a wide range of companies. For example, Verlinvest has interests in Tony’s Chocolonely, among others, and was previously a shareholder in clothing brand G-Star. Within the automotive world, the company is active with K1 Speed, a provider of electric kart parks.

Production in Austria

The KTM X-Bow has been built in Graz, Austria, since its introduction in 2008. Maintenance takes place in Thalsheim. With the sale, KTM is saying goodbye to a project that was seen by many as a prestige part of former CEO Stefan Pierer. Pierer, who often mirrored BMW, saw the X-Bow as a way to put the brand on the map with cars in addition to motorcycles. However, the project never became profitable.

Background KTM X-Bow

The X-Bow (pronounced crossbow) made its debut in 2008, in the midst of the global financial crisis. The first model was an uncompromising sports car without doors or windshields, with drivers even advised to always wear helmets. That link to the motorcycle world was obvious and made the X-Bow primarily a track-oriented car. Several variants of the X-Bow appeared.

KTM X-Bow GT2

The KTM X-Bow GT2 was introduced in 2020 as a serious race car for the international GT2 championship. With a powerful five-cylinder turbo engine from Audi, good for more than 600 hp, and an ultra-light carbon fiber chassis, the GT2 was one of the most extreme versions of the X-Bow family. The car is still used by several customer teams in long-distance races and proved to be one of the most successful variants of the X-Bow on the track. In 2023, a street-legal KTM X-Bow GT-XR was added. That one proved to be quite popular.

Although the X-Bow managed to appeal to a loyal fan base over the years, the model remained too uncompromising for large-scale street use. The sale to the Belgian investor marks the end of KTM’s ambitions in the auto industry and confirms that the X-Bow has remained primarily a niche product. What the new owner will do with KTM’s car division is not yet known.