A British investment firm is ‘very close’ to buying Indian, according to reports.
At the 29th June auction, Stellican Limited put down a deposit to gain the right of first refusal for Indian’s trademarks and logos. “We are currently evaluating the Indian brand and the potential that it represents,” Stellican principal David Wright said Tuesday. “Stellican Limited looks at heritage brands as part of its daily business.”
According to former Indian President, Rey Sotelo, Stellican officials are wavering between Gilroy and Sarasota as an Indian production site. Sotelo also claimed that Stellican founder Stephen Juliun asked him what position he would like with a new Indian company. There was no formal job offer, however. If they want him involved, he said he will try to sway them toward his home town of Gilroy, home to Indian for the last five years.
This seems unlikely when considering that Sotelo claims he will keep working on a new motorcycle brand he and business partner Geoge Nobile are developing.
Likely plans for Indian are to start slowly, making 1,500 to 2,000 bikes a year instead of the previous Indian company’s original three-year goal of 16,000.
So is the Indian story to get a happy ending this time around? This fan of the marque hopes so.
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