The scenario seemed unthinkable just a few years ago. Now it's on the table: MV Agusta could come under Chinese ownership. Weakened by the split with KTM, the legendary Varese-based brand is now attracting the attention of the same company that already acquired Benelli. And, unsurprisingly, QJMotor appears to be the most credible candidate.
The numbers speak for themselves. MV Agusta closed out the year 2025 with a 27,8% drop in its salesAnd the projections for 2026 are even more worrying: barely more than 2,000 motorcycles are expected for the entire year. A critical volume, insufficient to sustainably support a European industrial structure.
For a brand that has been trying to recover for years, this is yet another blow. (The parenthesis) KTMThis initiative, intended to bring stability and resources, proved short-lived and inconclusive. Its legacy is now a heavy burden to bear.
The departure of KTM replaced Timur Sardarov At the helm, with a clear change of course: reduced volumes, extreme caution, and a withdrawal from aggressive product development. A more conservative approach, a break from previous periods when the main shareholder was directly involved in the industrial vision.
This strategy helped limit risks, but it also hampered the brand's creative and commercial momentum. Conversely, the era KTM had brought a more "corporate" structure: investments in Varese, strengthening of the design, close collaboration with the KISKA studio and a stated desire to consolidate the Italian identity of MV Agusta.
But this organizational upgrade came at a high cost. Several projects remained unfinished, and part of this structure still weighs on the company today, without the necessary volume to absorb it.
The ties between MV Agusta and China have never been broken.
One key element explains why the Chinese scenario is resurfacing: the links between MV Agusta and China were never broken. QJEngine has remained a strategic partner, both distributor in the Chinese market and client of the Varese design center.
It is no coincidence that many sporty models QJEngine present aesthetic codes heavily inspired by MV AgustaItalian expertise, particularly in design, is already being used behind the scenes.
According to MotomagFaced with financial pressure and a lack of short-term prospects, the sale of MV Agusta Choosing a Chinese manufacturer is now a credible option. QJEngine appears to be the most logical candidate, although other players might be interested.
Unlike other recent European acquisitions, this would not simply be about acquiring a prestigious name to affix to existing products. The aim would be to integrate a European production structure, with its history, its DNA, and its expertise.
For a Chinese group, the appeal goes far beyond volume: prestige, brand image, Italian design, and direct access to the European market. On paper, the deal could be a win-win. But the example Benelli remains in everyone's minds.
The situation is clear: time is running out. After a 2025 marked by massive destocking and a continuous erosion of sales, the search for an investor is no longer a strategic choice, but a vital necessity.
This time, unlike the agreement with KTMA simple financial contribution will not suffice. The future buyer will have to make a fundamental choice: to preserve the historical DNA of MV Agusta, or accept to transform it profoundly to adapt it to a global industrial logic.
MV Agusta is at a crossroads once again. And the question is no longer whether the brand will change, but who will decide what it will become.
