Brammo Inc (founder Craig Bramscher pictured) has announced a $28 million dollar investment led by Polaris Industries – the Oregon and Minnesota-based companies entering a new strategic partnership.
Brammo expects the new partnership with Polaris to accelerate its development plans and “enhance Brammo’s leadership in the 2 wheeled EV space, while broadening its reach in terms of product development, geographic reach and aggressive growth; all while continuously improving quality, performance, and customer service.”
“We are excited to add Polaris Industries as a valued strategic partner. Brammo and its partners are combining forces to gain dominance in the EV powersports market,” said Brammo, Inc., Founder and CEO Craig Bramscher. “We now have the ability to maintain our high standards of quality while we innovate and commercialize at speed, and this enables us to better serve our customers and build a sustainable advantage. Polaris is the clear leader in powersports and our manufacturing partner, Flextronics, is a global leader in electronics manufacturing. Our products are the synthesis of powersports and electronics. Polaris and Flextronics present the best possible partners to help Brammo achieve the scale and prolific product development plans we have for the coming years.”
The most recent capital infusion, which included more contributions from existing partners (Alpine Energy and NorthPort Investments LLC), gives Polaris a minority investment in Brammo, but allows Polaris access to Brammo’s EV powertrain technology. Polaris already produces EV vehicles, with an electric version of its Ranger side-by-side UTV. The Minnesota-based company also produces the EV LSV, an electric-powered UTV for military applications.
“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.”
The latest round of investment should aid in the expansion of Brammo’s production lineup, as the company is yet to bring the 100 mph/100-mile range Empulse and its Encite/Engage dirt bikes to market. Brammo and its global partner Flextronics have begun manufacturing the Enteria electric motorcycle at the facility in Sarvar, Hungary. Brammo claims Flextronics will soon begin producing Brammo Power packs in another factory in Frickenhausen, Germany.
This year Brammo claimed the 2011 TTXGP North American title with its EmpulseRR, the racing development featured on Motorcycle USA with editor Steve Atlas at the helm (Read the full series in our Electric Superbike Racing series). Brammo has also stayed prominent in the EV news developments, recently acquiring KOM’s QuantyaParks – OHV parks catering exclusively to electric bikes. Brammo also announced this summer that it has developed a six-speed transmission for its forthcoming EV models.