October 26, 2011 – Polaris Industries Inc. has announced a minority investment in Brammo, an Ashland, Oregon 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.
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 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 we have found in the electric motorcycle space,” said Scott Wine, Polaris CEO. “Our companies share a passion for performance, and we look forward to exploiting the numerous opportunities created by pairing Brammo’s industry-leading electric powertrain technology with Polaris’ 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.”
In addition to potentially utilizing Brammo technology in its own products, Polaris will collaborate with Brammo to grow their core business.