Polaris Industries Inc. today announced a minority investment in Ashland, Oregon-based electric motorcycle manufacturer Brammo. The investment by the powersports company has finalized a $28 million Series B round of funding for Brammo that also included contributions from repeat investor Alpine Energy and first-time Brammo investor NorthPort Investments. Makers of ATVs, side-by-sides, snowmobiles and motorcycles (Victory and Indian), Polaris says they’ll benefit from the partnership by obtaining access to Brammo’s proprietary electric vehicle powertrain technology, as well as exposure to the rapidly growing electric motorcycle market. Polaris also recently made another move into the e-vehicle market by acquiring Global Electric Motorcars (GEM).
“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.”
Brammo, who currently make four models — the Enertia, Empulse, Engage and the Encite — say they plan to use the new partnership to help 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.”
No mention is made in the announcement however, as to whether we’ll soon be seeing Brammo’s urbane e-bikes for sale alongside the retro-styled Victory and Indian machines on Polaris showroom floors.