Motorcycle Types Cruiser Polaris to Acquire Global Electric Motorcars

Polaris to Acquire Global Electric Motorcars

Motorcycle Industry News

Polaris Industries Inc., which recently acquired the iconic American Indian Motorcycle, said it has reached an agreement to acquire Global Electric Motorcars LLC (GEM), a wholly owned Fargo, N.D. based subsidiary of Chrysler Group LLC and manufacturer of premium electric-powered vehicles.

GEM is the recognized leader within the low-speed vehicle market, with a well-respected brand and approximately $30 million in sales during the 2010 calendar year.

Since the company was established in 1998, they have placed over 45,000 electric-powered vehicles on the road worldwide. GEM has developed business-to-business sales expertise within the fleet and government vehicle markets, and has created a competitive advantage with core competencies in make-to-order vehicle fulfillment and mobile service support.

Scott Wine (Polaris CEO) says: “GEM provides Polaris with an established position in the low-emission small vehicle market and supports Polaris’ strategy of penetrating on-road market segments poised for growth.

“We are excited about the outlook for growth within this market space, and are looking forward to developing even stronger growth prospects for the GEM business.”

Mike Jonikas (Vice President of the On-Road Vehicle Division) says: “Our vision is to accelerate profitable sales growth for GEM, by combining Polaris’ strength in new product innovation with the most-recognized brand in the low speed vehicle market space.

“These new product efforts for GEM will be supported by an expanded distribution presence within select domestic and international markets.”

The agreement to acquire GEM will officially close within the next 60 days once Polaris secures the required state sales certifications to sell GEM products.

During this interim period, since Polaris will not yet have officially acquired GEM, operations will proceed as usual and Polaris will continue to learn and understand the GEM business through information exchange. Following this interim period, Polaris will be in a position to outline specific plans for the GEM business.

 

Ron Lieback
Ron Lieback
One of the few moto journalists based on the East Coast, Ron Lieback joined the motorcycle industry as a freelancer in 2007, and is currently Online Editor at Ultimate Motorcycling. He is also the author of "365 to Vision: Modern Writer's Guide (How to Produce More Quality Writing in Less Time).

Harley-Davidson Tremont Shoes Review: Urban Motorcycle Footwear

In the on-going debate over how much protection is enough, the correct answer for each of us comes from within. Some riders would never...

2021 Langen Two Stroke First Look: Street-Legal V-Twin!

If you thought we’d never see another street-legal two-stroke sportbike, you’re not alone. There hasn’t been a full-size two-stroke motorcycle for the street in...

2021 Indian Springfield Lineup First Look (5 Fast Facts)

There are two motorcycles in the 2021 Indian Springfield lineup, with the standard Springfield focused on longer-distance touring, and the Springfield Dark Horse pulling...

2021 BMW R 18 Review (19 Fast Facts on the First Edition)

Over a year after its concept debut, the 2021 BMW R 18 has made its way to production. Much has been written about its...

2021 Honda CRF450R Review (12 First Ride Fast Facts from Glen Helen)

The 2021 Honda CRF450R is all-new for 2021. The entirely new chassis, bodywork, exhaust, and hydraulic clutch highlight the changes to the CRF450R. Add to...

Arai Spoiler EX2 for the Corsair-X Helmet First Look

The Arai Corsair-X is the Japanese company’s flagship helmet and intended for riders of the highest performance motorcycle. MotoGP racers Maverick Viñales of Monster...