Polaris Acquires Brammo
Polaris Industries entered the motorcycle market in 1998 with the introduction of Victory Motorcycles. After success in the V-twin market with Victory, the Minnesota-based Polaris took on the task of reviving the world’s oldest brand – Indian Motorcycle, which was acquired in 2011.
Polaris’ two-wheel growth continued this week, but it wasn’t within the V-Twin cruiser segment. Rather, Polaris acquired the assets, technology and trademarks of the known electric-motorcycle manufacturer, Brammo.
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.
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.
The two companies will leverage Polaris’ leading position and distribution capabilities in the global powersports industry to market a variety of electric vehicles utilizing Brammo’s lithium-ion electric drivetrain technology.
Brammo will continue development of 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 original equipment manufacturers.
Under the agreement, Polaris will utilize the assets acquired to begin manufacturing electric motorcycles in the second half of 2015 at its Spirit Lake, IA assembly 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.
“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. 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.
Brammo’s motorcycles have won numerous racing championships including the 2013 FIM eRR North American World Cup Champion and 2012 TTXGP World Championship.
For additional information of Polaris, visit Polaris Industries.
