Minneapolis, Minnesota – Polaris Industries Inc. has acquired the electric motorcycle business of Brammo Inc. In addition, Polaris is acting as a leading investor in a recapitalization of Brammo that enables the company to focus exclusively on the design, development, and integration of electric vehicle powertrains.
Going forward, the two companies will leverage Polaris’ position in the global powersports industry to market a variety of electric vehicles utilizing Brammo’s lithium-ion electric drivetrain technology, while freeing Brammo to continue developing its innovative electric vehicle powertrains.
Brammo supplies these products, including the Brammo Power battery pack and Brammo Power vehicle management systems, globally to a wide range of OEMs. As part of this transaction, Polaris will utilize the assets acquired to begin manufacturing electric motorcycles in the second half of 2015 at its Spirit Lake, Iowa, facility.
“We have enjoyed our involvement with Brammo Motorcycles over the past three years, and our excitement about their industry-leading lithium-ion electric drivetrain technology has increased commensurate with their improvements in cost and performance. Polaris and Brammo share a goal of adding the most advanced and highest capability electric solutions to Polaris’ portfolio of leading powersports products,” said Scott Wine, Polaris chairman and CEO.
The agreement allows both companies to be more agile during the development cycle with clear accountability toward selling products that exemplify Polaris’ standard for delivering world class vehicles.
Polaris has been a strategic investor and partner with Brammo since 2011. During that time, the companies have collaborated on a number of projects in motorcycles, off-road and on-road vehicles.
Wine adds, “We anticipate a return on these investments and believe the new alignment brings us that much closer to delivering world-class electric solutions across our products.”
Source: Polaris