MINNEAPOLIS
(January 15, 2015) — Polaris Industries Inc. (NYSE: PII)
announced it 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’ leading position in the global
powersports industry to market a variety of electric vehicles
utilizing Brammo’s award winning 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, IA 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. “Today’s
announcement strengthens not only Polaris’ commitment to
bringing our consumers lithium-ion electric solutions, but also
this partnership’s ability to continue innovating and developing
leading electric drivetrain technology,” said Wine. “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.”
Brammo has designed and developed
numerous electric vehicles, including the award-winning Enertia
and Empulse motorcycles. Testifying to its capabilities and
technology, Brammo motorcycles have won a number of awards
including: 2013 Playboy “Motorcycle of Year” and “Best
Electric” (Empulse R), 2012 GQ “Best Stuff of the Year”
(Empulse), 2011 Popular Science “Best of What’s New” (Empulse),
2011 Motorcycle.com “Best of 2011” and a 2010 Silver Edison
Award. In addition, Brammo’s motorcycles have won numerous
racing championships including the 2013 FIM eRR North American
World Cup Champion and 2012 TTXGP World Championship.
.
About Polaris
Polaris is a recognized leader in
the powersports industry with annual 2013 sales of $3.8 billion.
Polaris designs, engineers, manufactures and markets innovative,
high quality off-road vehicles, including all-terrain vehicles
(ATVs) and the Polaris RANGER® and RZR® side-by-side vehicles,
snowmobiles, motorcycles and on-road electric/hybrid powered
vehicles.
Polaris is among the global sales
leaders for both snowmobiles and off-road vehicles and has
established a presence in the heavyweight cruiser and touring
motorcycle market with the Victory, Indian Motorcycle and
Slingshot brands. Additionally, Polaris continues to invest in
the global on-road small electric/hybrid powered vehicle
industry with Global Electric Motorcars (GEM), Goupil Industrie
SA, Aixam Mega S.A.S., and internally developed vehicles.
Polaris enhances the riding experience with a complete line of
Polaris Engineered parts, accessories and apparel, Klim branded
apparel and ORV accessories under the Kolpin, Pro Armor and
Cycle Country brands.
Polaris Industries Inc. trades on
the New York Stock Exchange under the symbol “PII”, and the
Company is included in the S&P Mid-Cap 400 stock price index.
Information about the complete
line of Polaris products, apparel and vehicle accessories are
available from authorized Polaris dealers or anytime at
www.polaris.com.
Any corrections or more information on these motorcycles will be kindly appreciated.