Polaris is on a roll. Their own multi-line ATV, snowmobile and motorcycle business is doing very well, they’ve taken on Indian Motorcycles and now they’ve invested in Brammo. All of those Brammo customers who have been waiting for their Empulse to arrive may finally see some light at the end of the tunnel.
As the press releases below explain:
Polaris obtains access to their proprietary electric vehicle powertrain technology, as well as exposure to the rapidly growing electric motorcycle market.
This could be a very powerful combination. Good move, Polaris!
Polaris and Brammo press releases follow:
Polaris Press Release:
Polaris Announces Investment in Brammo
Powersports Leader Acquires an Interest in Electric Motorcycle Leader
MINNEAPOLIS (10/26/2011) — Polaris Industries Inc. (NYSE: PII) today announced a minority investment in Brammo, an Ashland, Ore.-based maker of electric vehicle technology and two-wheel electric vehicles. By investing in Brammo, Polaris obtains access to their proprietary electric vehicle powertrain technology, as well as exposure to the rapidly growing electric motorcycle market.
“We are excited to advance our electric vehicle capability by establishing Polaris as a business partner and part owner of Brammo, one of the most innovative and aggressive companies I have found in the electric motorcycle space,” said Scott Wine, Polaris CEO. “Our companies share a passion for performance, and I look forward to exploiting the numerous opportunities created by pairing Brammo’s industry-leading electric powertrain technology with Polaris’s vast array of market-leading powersports products. This is a small but important investment for Polaris in an electric vehicle market that we feel is poised for significant growth.”
Founded in 2002, Brammo has made its mark by developing electric vehicle technology tailored specifically for the motorcycle segment. Brammo currently offers the Enertia line of motorcycles, capable of speeds in excess of 60 mph and ranges up to 80 miles on a single charge. Brammo plans to expand their product line to include high-performance sport motorcycles capable of more than 100 miles on a single charge, as well as a full line of entry- to high-performance dirt and dual-sport motorcycles.
“We have always been impressed with Polaris’ leadership within the motorsports industry. Polaris is a company founded on innovation and quality, and as such their decision to partner with Brammo is a resounding endorsement of our technology,” said Brammo CEO and founder Craig Bramscher. “This is a terrific scenario for Brammo’s customers, as we bring Polaris’ legendary engineering, manufacturing, and customer service expertise to bear on our products.”
In addition to utilizing Brammo technology in its own products, Polaris will collaborate with Brammo to grow their core business. Polaris and Brammo each bring distinct competencies and assets to this partnership, and share cultures centered on a passion for excellence and innovation. This combination of capabilities and culture will allow Polaris and Brammo to create and seize opportunities that neither could capture independently.
Brammo Press Release:
Brammo Drives Growth with $28 Million Series B and Forms a Strategic Partnership with New Investor Polaris Industries.
Ashland, Oregon, USA October 26, 2011 – Brammo Inc, a leading developer of electric vehicle technology and manufacturer of two-wheel electric vehicles, announced today that it has closed a $28 million Series B funding round designed to accelerate the company’s development plans.
The final tranche of the Series B was led by Polaris Industries and included further contributions from existing shareholder Alpine Energy, while adding NorthPort Investments LLC. Polaris, a recognized leader in the powersports industry joins the team as a key strategic partner for Brammo, bringing opportunities to broaden the range of markets for Brammo Electric Vehicle (EV) drivetrain technology and expertise.
“We are excited to add Polaris Industries as a valued strategic partner. Brammo and its partners are combining forces to gain dominance in the EV powersports market,” said Brammo, Inc., Founder and CEO Craig Bramscher. “We now have the ability to maintain our high standards of quality while we innovate and commercialize at speed, and this enables us to better serve our customers and build a sustainable advantage. Polaris is the clear leader in powersports and our manufacturing partner, Flextronics, is a global leader in electronics manufacturing. Our products are the synthesis of powersports and electronics. Polaris and Flextronics present the best possible partners to help Brammo achieve the scale and prolific product development plans we have for the coming years.”
The foundation of Brammo’s success lies in its innovative battery and powertrain technology, which is integral to its expanding product line, including the Enertia – urban commuter, Empulse – sports motorcycle, and Engage and Encite – supermoto and off road motorcycles. This same EV technology has potential in both the powersports and the low speed vehicles markets. The intent of Brammo’s strategic partnership with Polaris is to enhance Brammo’s leadership in the 2 wheeled EV space, while broadening its reach in terms of product development, geographic reach and aggressive growth; all while continuously improving quality, performance, and customer service.
Flextronics enables Brammo to scale through time efficient procurement, supply chain optimization, and high quality assembly. Additionally Flextronics is partnering with Brammo on its battery packaging design and is providing design for manufacturing (DfM) services to Brammo. Currently producing the Enertia at its Sarvar facility in Hungary, Flextronics is about to begin producing the Brammo Power™ battery packs at its Frickenhausen facility in Germany.