Acquisition Includes Certain Assets, Technology, and Trademarks
MINNEAPOLIS--(BUSINESS WIRE)--
Polaris Industries Inc. (NYSE: PII) today announced it has acquired the
electric motorcycle business of Brammo Inc. 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.
Going forward, the two companies will leverage Polaris’ leading position
in the global powersports industry to market a variety of electric
vehicles utilizing Brammo’s award winning lithium-ion electric
drivetrain technology, while freeing Brammo to continue developing its
innovative 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 OEMs. As part of this
transaction, Polaris will utilize the assets acquired to begin
manufacturing electric motorcycles in the second half of 2015 at its
Spirit Lake, IA 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. The agreement allows both companies to be more
agile during the development cycle with clear accountability toward
selling products that exemplify Polaris’ standard for delivering world
class vehicles.
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. “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. Testifying to its
capabilities and technology, 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. In
addition, Brammo’s motorcycles have won numerous racing championships
including the 2013 FIM eRR North American World Cup Champion and 2012
TTXGP World Championship.
About Polaris
Polaris is a recognized leader in the
powersports industry with annual 2013 sales of $3.8 billion. Polaris
designs, engineers, manufactures and markets innovative, high quality
off-road vehicles, including all-terrain vehicles (ATVs) and the Polaris
RANGER® and RZR® side-by-side vehicles, snowmobiles, motorcycles and
on-road electric/hybrid powered vehicles.
Polaris is among the global sales leaders for both snowmobiles and
off-road vehicles and has established a presence in the heavyweight
cruiser and touring motorcycle market with the Victory, Indian
Motorcycle and Slingshot brands. Additionally, Polaris continues to
invest in the global on-road small electric/hybrid powered vehicle
industry with Global Electric Motorcars (GEM), Goupil Industrie SA,
Aixam Mega S.A.S., and internally developed vehicles. Polaris enhances
the riding experience with a complete line of Polaris Engineered parts,
accessories and apparel, Klim branded apparel and ORV accessories under
the Kolpin, Pro Armor and Cycle Country brands.
Polaris Industries Inc. trades on the New York Stock Exchange under the
symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock
price index.
Information about the complete line of Polaris products, apparel and
vehicle accessories are available from authorized Polaris dealers or
anytime at www.polaris.com.
About Brammo
Brammo Inc. is a leading electric vehicle technology company
headquartered in North America. Brammo designs and develops electric
vehicles including the award winning Enertia and Empulse motorcycles.
Brammo is the 2013, FIM eRR North American World Cup Champion. Brammo is
an OEM supplier of its innovative Brammo Digital Drivetrain systems
including the Brammo Power battery pack and Brammo Power vehicle
management system. Brammo has vehicle distribution and marketing
operations in North America, South America, Europe, and Asia.
Information about Brammo can be found at www.brammo.com.
Source: Polaris Industries Inc.