POLARIS has announced it has bought electric motorcycle firm Brammo Inc.
According to a release, Polaris is also acting as a leading investor in a recapitalisation of Brammo, enabling the electric vehicle firm to focus exclusively on the design, development and integration of electric vehicle powertrains.
The two companies will use Polaris’ position in the global powersports industry to market a variety of electric vehicles using Brammo’s lithium-ion electric drivetrain technology.
Scott Wine, Polaris Chairman and CEO, said: ‘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,’
Polaris, a leader in the powersports industry with an annual 2013 sales figure of $3.8 billion (£2.5 billion), has been a strategic investor and partner with Brammo since 2011. In that time, the two firms 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,’
‘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.’
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