Polaris Industries (NYSE: PII), one of the largest makers of off-road vehicles, has acquired the electric motorcycle business of Brammo, and will act as a lead investor in a recapitalization of Brammo that will enable the company to focus exclusively on the design and development of electric powertrains.
Polaris has been a strategic investor and partner with Brammo since 2011. The companies have collaborated on a number of projects in motorcycles, off-road and on-road vehicles. They will continue to market a variety of EVs using Brammo’s electric drivetrain technology, which it already supplies to a range of OEMs.
Polaris will begin manufacturing electric motorcycles in the second half of 2015 at its Spirit Lake, Iowa facility.
“Our excitement about Brammo’s industry-leading lithium-ion electric drivetrain technology has increased commensurate with their improvements in cost and performance,” said Scott Wine, Polaris Chairman and CEO. “Polaris and Brammo share a goal of adding the most advanced and highest capability electric solutions to Polaris’ portfolio of leading powersports products. 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.”